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I've overpaid Social Security via multiple jobs and it says I should get a credit from that but its not reducing my balance due. Why?

 
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AnnetteB
Intuit Alumni

I've overpaid Social Security via multiple jobs and it says I should get a credit from that but its not reducing my balance due. Why?

Take a look at line 71 of your Form 1040 to see if the excess amount has already been taken into account. 

If your situation was due to having multiple employers during the year, the excess amount is automatically included on line 71 of Form 1040.  When this happens, the refund meter updates on the overall entry from the W-2, so it does not make an obvious change. 

Use these steps while you are working in your tax return to Preview your Form 1040 and take a look at line 71.

·         In the navigation area on the left side of your screen, click Tax Tools to expand your choices

·         Click Tools, which will open the Tool Center

·         Click View Tax Summary under “Other Helpful Links…

·         Click Preview My 1040 to see your actual tax form


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