Re: Turbotax says I deferred some of my Social Security taxes last year. I paid the maximum SS tax last year ($8537.40 in Box 4 of W-2). How can this be true?

Turbotax says I deferred some of my Social Security taxes last year. I paid the maximum SS tax last year ($8537.40 in Box 4 of W-2). How can this be true?

posted

As long as you did not have any Self-employment income for 2020?

ANNNd, you double check that your 8537.40 is actually in the software form, box #4?

Then you can ignore it entirely....It is a verified software error that created the "notice" that does not affect your tax filing at all. Popped up after Wed night's software update....

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

I just had the same thing happen to me and spent the last 3 hours researching and contacting our payroll department on a Saturday! Wish I saw this first. Thank you.