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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.
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.
Basically it is added to your other payments and refundable credits as follows.
If Line 16 is greater than Line 20 you have tax due.
@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.
I conducted a test case and the excess social security was computed due to multiple employers based on the following:
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.
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?????
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
My W-2s are correctly entered for the same person and Schedule 3 line 11 is still blank.
I have the same problem and nothing is showing on Schedule 3 or on the 1040. When are you fixing the bug?
To clarify, What is the combined total of the Social Security Withholdings from the multiple employers?
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