topic If social security tax 6.2%, why does turbo tax use 6.145%? in Retirement tax questions

If social security tax 6.2%, why does turbo tax use 6.145%?

whatearle99 — Mon, 23 Feb 2026 13:28:38 GMT

The Turbo Tax calculation appears to be wrong and states my employer withheld too much. It is requesting a corrected W2 and refund from employer. However, the taxes withheld are 6.2% and the W2 is correct. Is there a Turbo Tax update to fix this bug (and simple calculation)?

Re: If social security tax 6.2%, why does turbo tax use 6.145%?

dmertz — Fri, 03 Feb 2023 19:58:51 GMT

TurboTax uses 6.2%.

Did your employer fail to limit Social Security wages to $147,000?

Re: If social security tax 6.2%, why does turbo tax use 6.145%?

BillM223 — Fri, 03 Feb 2023 19:59:25 GMT

"The Turbo Tax calculation appears to be wrong and states my employer withheld too much." Could you tell us where it says this? And also could you share with us the Box 3 and Box 4 amounts on your W-2(s)?

Re: If social security tax 6.2%, why does turbo tax use 6.145%?

pmtnwest — Sat, 04 Mar 2023 17:51:51 GMT

I'm having a similar issue: After inputting my W2 and progressing past the "Your W-2 info so far" screen by clicking "continue," I get a screen saying "You may be due a refund from your employer" and not to file. I checked my W2 and the SS tax equals 6.2%! Box 3: 134495.81 and Box 4: 8338.74

Turbotax is incorrectly saying I'm due SS tax overpayment

pmtnwest — Sat, 04 Mar 2023 17:54:42 GMT

Re: Turbotax is incorrectly saying I'm due SS tax overpayment

pmtnwest — Sat, 04 Mar 2023 18:52:05 GMT

See related post

Excess social security tax

There I explain that a TT update zeroed out some fields in a W2 I'd already entered, hence the error.