Form 8959 and 8960

[rsp6377]

My company took out the required taxes for my medicare wages including that above 250K why am being taxed again on form 8959 and 8960?

[DavidD66]

The tax calculated on Form 8960 is the  Net Investment Tax, which is basically Medicare tax on investment income when your AGI is above the threshold.   If Form 8959 shows additional Medicare tax due, it means your employer did not withhold enough Medicare tax from you wages, and/or you had self-employment income.

[rsp6377]

Thank you very much for the response and I checked the tax from W2 for up to 250K and that that exceeded above 250K and the amount was correct but TurboTax appears to add more tax required on 8959. And I had no additional income above and beyond my one W2. Is there anyway to speak to a representative?

[DavidD66]

The best and most efficient way for you to connect with the right person to get the help you need is to select the version you are using below.

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[rsp6377]

Hi David, just wanted to let you know I was able to contact a TurboTax expert and she was very helpful.  And though I understand how TurboTax calculated my Form 8959 additional medicare tax above 200K I'm not exactly convinced it's the correct way based upon how the tax authorities at my company (The Boeing Co) calculate medicare tax along with what I read on a Google search and how TurboTax calculates it.  I can't imagine the tax accountants at Boeing calculated it incorrectly.  I believe this is an area where TurboTax should double check as I believe when all is said and done that Turbox tax may have an error.

Regards, Robert Powell