I have been using TurboTax for years and this year I find out that the program automatically uses Schedule 3 form 1040 whether or NOT it is needed!!!! I have close family members who have had their refunds, child credits and payments DELAYED because this software added $1.00 YES, ONE DOLLAR to a form I did not know was AUTOMATICALLY completed??????????????????
I may never use this program again......EVER. We sit and wait for the IRS to make a manual adjustment to REMOVE the goddamed $1.00 to free thousands in refund $$.
YOU SUCK for doing this
This is the just the first post where this is an issue on a 2020 tax return. It certainly is not systemic.
What line number of Schedule 3 has this $1 entered?
Schedule 3 is Only used if it is required based on the tax data entered. It is not automatically generated if not needed.
In the future ... before you file review the entire return carefully, then sleep on it and review it again the next day before finally clicking on the send button. This is good method no matter which tax program you use ... taking time to make absolutely sure you are satisfied with the entire return before filing would save a lot of anguish for many posters on this forum.
Here is a schedule 3------which line of yours has $1?
IRS is not going to remove $1 from a schedule unless it is for a credit for which you don't qualify.
Many tax returns are being delayed for various mysterious reasons beyond the usual suspect reasons mentioned in the IRS news flashes.
The $1.00 appears on Line 10 of Schedule 3. I did NOT put it there nor do I recall any question asking about schedule 3. The income clearly does NOT qualify for any refund so why the $1.00 is there is beyond me. And the IRS has advised they will remove it, when the staff has time and it comes into the queue. This is a software issue that has been brought up numerous times before if one would read other questions on this same issue.
Excess SS paid is computed automatically by the program if you paid in too much SS taxes on your combined W-2 forms ... the program would have asked you to review that amount in the W-2 section ... you can log into the return by using the ADD A STATE option at the bottom of the landing page.
There are 2 different situations when it will say Employer may have paid too much Social Security. It's saying either 1 employer took out too much SS -OR- that you paid too much SS because you had more than 1 employer. This should cover both.
More than 1 Employer:
For 2020, If you had more than one employer and the total of box 4 (only box 4 not box 6) on all your 2020 W2s for Social Security is more than $8,537.40 you get the excess back on your tax return. And it is for each spouse separately, not combined. Check 1040 schedule 3 line 10 for it. Then schedule 3 goes to 1040 Line 31. If only one employer took out more than$8,537.40 you have to get the difference back from that employer and get a corrected W2 form.
Check boxes 3 & 4 on your W2. Box 4 should be 6.2% of box 3 up to a max of $8,537.40. 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.
Or post back with the amounts in boxes 3&4.
TaxAct software for 2021 returns. Goodbye TuboTax, you have cost weeks of unnecessary delays to a needed refund to my son due to this Schedule 3 $1.00 autofill error. I re-re-re did the return and the inclusion of this form is NEVER questioned or mentioned throughout. And don't send me any more surveys, I will totally trash you.
For the excess Social Security on Schedule 3 line 10. Add up all your W2 box 4. Is it more than $8,537.40? Might be a rounding issue. You can leave off the cents in box 4 to see if that helps.