Solved: Turbo Tax saying they withheld too much for Bonnies SS tax. Her total income was 7655.18 and they withheld 474.62 or 6.19%.
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Turbo Tax saying they withheld too much for Bonnies SS tax. Her total income was 7655.18 and they withheld 474.62 or 6.19%.

 
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Turbo Tax saying they withheld too much for Bonnies SS tax. Her total income was 7655.18 and they withheld 474.62 or 6.19%.

Well, I agree that 6.2% of $7,655.18 is $474.62116.

But I do have to wonder if there is a rounding error here...if you round $474.62 up to $475, then 475 divided by 7655 is 6.025049 (blah blah), which is slightly larger than 6.2%.

It should not affect your return, because the "excess" is about 2.4 cents, which will probably be reduced to zero.

Thanks for the numbers; it will help looking into this, but, as I said, it shouldn't affect your return.

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Level 13

Turbo Tax saying they withheld too much for Bonnies SS tax. Her total income was 7655.18 and they withheld 474.62 or 6.19%.

Well, I agree that 6.2% of $7,655.18 is $474.62116.

But I do have to wonder if there is a rounding error here...if you round $474.62 up to $475, then 475 divided by 7655 is 6.025049 (blah blah), which is slightly larger than 6.2%.

It should not affect your return, because the "excess" is about 2.4 cents, which will probably be reduced to zero.

Thanks for the numbers; it will help looking into this, but, as I said, it shouldn't affect your return.

View solution in original post

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