Tax Year Prior to 2020: Social Security and Medicare payroll withdrawals for 2019.

[haroiasg]

I have Turbo Tax Premier for 2019--download version.  I entered my income and Social Security/Medicare withdrawals for 2019 and the program indicated too much had been taken out.  I researched the information on the Social Security website and the correct amount had been taken out --6.2 % and 1.7%.  Turbo tax indicated a ridiculous amount to be correct ($13,753 income--52.87 withdrawl for Social Security).  Why is there an error here and what other errors/glitches are in this program?

[SusanY1]

This message usually displays when the withholding entered on Form W-2 has a decimal out of place.  For example, 52.87 may have been imported or entered as 5,287.  or 528.70.  

To check to see if this is the issue, please revisit the W-2 entry screen by returning to Wages & Income and then Job (W-2).  Click Edit beside your W-2 and check the entry in Box 4. 

It can sometimes be helpful to enter round the entry to whole dollars (52.87 would be entered as 53, for example) if the error persists.  

If this doesn't resolve the issue that you're experiencing, please let us know so that we can troubleshoot further.  

[haroiasg]

The numbers and decimal are all correct and the program says $800.11 too much was taken out for Social Security.  This so ridiculous!  There is no age limit on Social Security deductions from income nor situations where it isn't to be taken out--the rate is 6.2% and that is what was withdrawn.  What other errors am I going to incur?  This is becoming scary!

[SusanY1]

Do you have more than one W-2?  The other instance when we see this is often is for multiple employers.  

For taxpayers who have more than one employer, the rate can be correct at each employer but the total amount withheld for the year may be incorrect for the taxpayer, and the amount is then refunded to the taxpayer on the tax return.  

In 2019 the maximum wages subject to social security tax for an individual is $132,900, so if your wages are greater than this and you had more than one employer during the year, it could also cause you to get the error that too much social security tax was withheld. 

[haroiasg]

I only have one employer.

[VictorW9]

The actual percentages are 6.2% and 1.45%, not 6.2% and 1.7%.

[haroiasg]

That's fine---  I still want to know why I getting this statement of too much being withdrawn when it is correct.

[Mick749]

I am running into questions with a pension rollover. Used to love this software, it works great for simple returns. Hope you get a answer, it is very frustrating not having a real person to talk to (unless you pay another $70 like you have).  Why can't he / she view your return like a real CPA would and identify the problem?

We are considering returning to a brick and mortar for tax returns. 

[VictorW9]

Without access to your return I cannot be definite as to the reason for that. Also, apart from making sure the correct percentages were used by your employer, there is also a maximum amount of income that's taxable by FICA. For 2019, this amount is $132,900.

[haroiasg]

The only employer income I have is $13, 753 for 2019.  Other income is from IRA --RMD.  This is an error in the program and it is troublesome because now I don't know if there are any other errors or glitches.  Also, the very first thing the customer puts in the program is earned income so the program isn't "pulling" from any other information.  I have used Turbo Tax for many years and this is the first time something like this has happened.  I am a single person, 75 years old and not head of household.  This situation is an error--the question is--what can we do to make sure there are no other errors in the Turbo Tax Premium download from Amazon program.

[DaveF1006]

Why don't you try deleting the W2 and reenter the information to see if you get the same error.  You may need to contact Turbo Tax phone support to pinpoint any potential issues that prevent you from filing. 

[VolvoGirl]

@haroiasg   What is in boxes 3&4 on your W2?  If you had wages of 13,753 then the SS in box 4 should be $852.69.  Are you trying to enter from your paystub?  The W2 usually does not match your pay stubs.  

Delete the W2 and re enter it.  That usually clears something out.  

If it said you paid 800.11 too much then you only entered $848 wages in box 3 instead of 13,753.  Did you reverse boxes 3&4?  

[haroiasg]

Thank you so much for your help!  I really feel "bright"--that is exactly what I did---I had the W2 in my hand, but didn't put in the wages 3 times as the boxes indicated.   WOW--Thank you so much for helping me on this!!!!