turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

10 Replies
MayaD
Employee Tax Expert

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

The excess social security is reported on Schedule 3 (Additional Credits and Payments) line 11.

The total of excess Social Security Taxes and Other Payments and Refundable Credits will show on schedule 3 line 14 and on your tax return Form 1040 line 18d.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

Thanks for your reply, Maya. I am aware that form 1040 reflects the credit however I do not see the amount subtracted from what TurboTax is making me pay for what I owe in taxes. I would expect this credit to be subtracted from what I owe. 

JosephF8
Expert Alumni

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

Basically it is added to your other payments and refundable credits as follows.

  • On the 1040 Line 16 is your total tax
  • Line 17 notes your Federal Tax Withheld on W-2's and 1099's
  • As noted The Credit for Excess Social Security flows to Line 18d
  • When added to other payments and refundable credits it moves to Line 18e
  • This line is then added to Line 17 (noted above) and totaled on Line 20.
  • At this point if line 20 is greater than line 16 you get a refund.

If Line 16 is greater than Line 20 you have tax due.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
User_1234
Returning Member

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?


@JosephF8 wrote:
  • As noted The Credit for Excess Social Security flows to Line 18d

 


This is the issue, it seems Turbotax is not populating Schedule 3 to get this value.  I see the same behavior as the OP, the software is telling me the overpayment will be applied, however there is no change in calculations.  Digging further, I found that Schedule 3, Line 11 is empty.  

LindaB1993
Expert Alumni

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

I conducted a test case and the excess social security was computed due to multiple employers based on the following:

 

  • In 2019, you aren't required to pay the Social Security tax on any income you earn beyond $132,900. This limit is known as the Social Security Wage Base. This means that, regardless of how much income you earn, you'll pay no more $8,240 in Social Security taxes
  • For tax year 2019, you'll have excess Social Security withholdings if the sum of multiple employers' withholdings exceeds $8,239.80 per taxpayer.

You don't need to take any action. We'll automatically add the excess to your federal refund or subtract it from federal taxes you owe, whichever applies.

The excess will appear as a tax credit on Line 11 of your Form 1040, Schedule 3.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

Having same problem!

schedule 3 #11
total excess social security  is showing BLANK!  No number. 
Many people are saying the have a problem but turbo keeps saying no???

Please don’t ask if we put in correctly. 
husband has 2 different employers, paid $8900 to SS.  No credit. What do we do?????

DeanM15
Expert Alumni

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

The most likely reason it is not showing is that you have one of the W2s assigned to the wrong person.

 

Check in the W2 section that both W2s are assigned to the correct person. Absent the excess SS withholding it generally does not matter on a joint return. In this case, it does.  

 

@Msouto5

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
debsnell
New Member

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

My W-2s are correctly entered for the same person and Schedule 3 line 11 is still blank.  

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

I have the same problem and nothing is showing on Schedule 3 or on the 1040.  When are you fixing the bug?

DaveF1006
Employee Tax Expert

I overpaid in social security taxes this year due to having multiple employers but I am not seeing the credit subtracted from what the taxes I owe. What gives?

To clarify,  What is the combined total of the Social Security Withholdings from the multiple employers?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question