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New Member
posted Jun 3, 2019 1:11:48 PM

Why does Turbo Tax say my taxes withheld on my W-2 is only $334 when Federal income, Social Security and Medicare taxes withheld add up to over $460? What am I missing?

Its just a retail job and its saying I owe when my math looks like they should owe me. HELP! THANKS!

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1 Best answer
Expert Alumni
Jun 3, 2019 1:11:50 PM

Federal tax withholding is separate from withholding for Social Security and Medicare taxes.  The Federal tax withheld is the payment you make towards the tax due on your return. Social Security and Medicare taxes are payments made towards your retirement benefits.

3 Replies
Level 15
Jun 3, 2019 1:11:49 PM

Only your federal wages and  federal income taxes withheld are reported on a tax return as shown on your W-2 in box 1 and box 2.

Expert Alumni
Jun 3, 2019 1:11:50 PM

Federal tax withholding is separate from withholding for Social Security and Medicare taxes.  The Federal tax withheld is the payment you make towards the tax due on your return. Social Security and Medicare taxes are payments made towards your retirement benefits.

New Member
Jun 3, 2019 1:11:51 PM

Okay thank you for helping me. I'm pretty tax dumb haha. Thanks again.