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archiguy
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Turbo tax said my employer overpaid my social security tax, yet the amount seems to be correct at 6.2%

 
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4 Replies

Turbo tax said my employer overpaid my social security tax, yet the amount seems to be correct at 6.2%

Are you filing a joint return?  Did you enter all of the income under only one of your names?

 

If you did that, then the software thinks one of you paid too much SS and it inflates the refund--resulting in a nasty IRS letter in a year or so.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Turbo tax said my employer overpaid my social security tax, yet the amount seems to be correct at 6.2%

Double check all your W-2  data entry to be sure you didn't type a comma in place of a decimal point.

Turbo tax said my employer overpaid my social security tax, yet the amount seems to be correct at 6.2%

It told me that as well.  I had only 1 employer, I am single, no other income or people involved.  I checked the math and my withholding was correct to the penny.  Double checked my W-2 entries and everything is correct.  I think it's a ploy to get me to pay the extra $60 to upgrade.  I went to Tax Act to file instead - it did not say anything about an over-payment.  Shame on Turbo Tax!  I've used them for many years, but as of this year - no more.  

Turbo tax said my employer overpaid my social security tax, yet the amount seems to be correct at 6.2%

I would check if it was a wrong entry, just to know.

 

Check boxes 3 & 4 on your W2. Box 4 should be 6.2% of box 3 up to a max of $8,239.80.   So take the amount in box 3 and multiply it by .062. If box 4 is more than that you need to get a corrected W2 from your employer.  But also go back and double check your W2 entries, you may have entered box 3 & 4 wrong.  A lot of people who have asked this found they did enter an amount wrong.

 

Or check W2 box 12.  You may have entered Code A by mistake.

 

A sure way to fix this is to delete the W2 and re-enter it.  That may clear something out.

 

Or post back with the amounts in boxes 3&4.

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