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rbiello
Returning Member

Turbo Tax error?

I'm entering payroll info from an employer including salary,($4849) and social security ($300) and medicare ($70.32)deductions.  Obviously a small, part time job.  Turbo Tax is prompting me "it looks like you've had too much deducted for Soc SEc and Medicare from your pay.  Contact your employer to get a refund and a revised W-2."

I contacted the employer and he says the deductions are correct.  What do I do?

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2 Replies

Turbo Tax error?

On your W-2 reduce the amount of Medicate taxes withheld by $0.01 cent and that should correct the error.  Medicare taxes are 1.45% of the amount in box 5.

For the Social Security taxes they cannot be more than 6.2% of the amount in box 3.  So reduce the amount in box 4 by 1 or 2 cents as necessary.  

Turbo Tax error?

Did you enter the 4849 in boxes 1 AND 3 AND 5 ? 

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