Re: social security - Community
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New Member

social security

Tubo Tax said my part time job took out too much social security.  I am 70 get social security and take 10% out automatically.  They took out 2000 too much according to turbotax is that possible?

4 Replies
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Level 15

social security

Look at the W-2 that you entered.  If the amount in box 4 of the W-2 is greater than 6.2% of the amount in box 3, even if by $0.01, the program will give you that message.  If that is the case, then edit your W-2 and remove the cents from the Social Security taxes withheld.

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Level 15

social security

This is not related to withholding from your benefit payments, this is about new SS tax withholding from your part-time job paycheck.

 

There are two issues that can cause "too much social security."  One is if your total social security withholding from your job (W-2 box 4) is more than $8230.  The other issue is if box 4 is more than 6.2% of box 3.  Turbotax seems very sensitive to rounding this year.  For example, if your wages are $9232, your SS tax should be $578.58.  Turbotax will round that up to $579 and then report that as "too much SS tax withheld". 

 

Double-check your W-2 that all the numbers are correct.  If you still get the error message, try reducing the box 4 amount by $1.  It should clear the error and won't create a problem with the IRS. 

*Answers are correct to the best of my ability but do not constitute legal or tax advice.*
**If a post answers your question, choose it by clicking on "Mark as Best Answer".**
Level 15

social security

If the supposed error is $2000, that sounds like some of the numbers from your W-2 boxes 1-6 are incorrect, not a rounding issue. 

*Answers are correct to the best of my ability but do not constitute legal or tax advice.*
**If a post answers your question, choose it by clicking on "Mark as Best Answer".**
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Level 15

social security

$2,000 is almost impossible. that would imply that they took out Social Security for about $32,000 more in social security wages.   i would check your w-2 entries.    

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