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New Member
posted Apr 16, 2018 11:14:07 PM

Error in TurboTax calculation for Social Security overpaymment

I think I discovered a bug in TurboTax.  

This year, because I switched jobs, I had an overpayment of Social Security Tax (exceeded the $7,886.40 cap).  However, when I enter my W2's in TurboTax, it properly assigns those W2's to me, and shows up as a surplus in line 4 of my W2/W2G Summary.  However, the calculation for line 71 is zero.

 

I tried starting over with a new file to see if I messed up something on the W2 entry or import.  I tried this a couple times.  I found that when I imported my prior year turbotax return information, THEN the calculation for line 71 is in error.  But if I create a new turbotax file with NO import from prior year, then the calculation is done correctly.  

 

Bottom line, if you are a prior user of TurboTax and know you overpaid your SS taxes, DONT trust Turbotax to "automatically do this calculation for you".  Double-check line 71 of your 1040 to make sure your Social Security tax overpayment is properly reflected.

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1 Replies
New Member
May 18, 2018 3:08:20 PM

I am processing an amended return for wages from an additional employer.  I have populated the additional W2 data and receive a message regarding overpayment of SSI however, the amount owed is not reflecting this refund.  I should actually be getting a refund rather than owing additional payments.  Can form 843 be filed to collect this refund or is there some other action to take to remediate this?