Overpaid Social Security due to multiple jobs

[dt191919]

I was told "You're entitled to a refund of $XXX.00 for the excess Social Security withheld from your pay".

However my Refund Amount does not reflect this update. What is the issue ?

[SteamTrain]

1)  IF the two W-2 forms were for different employers, but they used the same Payroll Agent that issued the W-2 forms, then the EIN for both forms is the same, and there is a known bug in the software that doesn't put in the credit.  It's being worked on....wait 2 weeks and try again

2) If the two employers are unrelated to each other, and  issued their own W-2 forms, then the EIN on each W-2 would have to be different. Double check what you entered for each Company's EIN, they should be different.   But the credit for the overpaying of SS in box 4 of the two W-2 forms would then be shown one line 11 of the schedule 3, and added into line 18d of the form 1040...look for it there.

[MinhT1]

If you enter your 2 or more forms W-2 in TurboTax, the amount of excess social security tax withheld will be calculated by TurboTax and included as a credit on your tax return. You will not receive a separate refund.

To check that this credit is on your form 1040, you can preview this form by following these steps:

• In TurboTax, open your return
• In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
• On the Tools Center page, click on View Tax Summary
• In the left-hand column, click on Preview my 1040
• Your form 1040 will display.
• Scroll down to Part II - Other Payments and Refundable Credits - line 11 and you should see the amount of the excess social security withheld

Please also be aware of the issue mentioned by Champion @SteamTrain above.

Edited 01/27/2020  |  6:30 PM PST

[pbernick]

My situation falls under option 2 but I am still not seeing the credit on Schedule 3.....is the bug still being worked on?

[SteamTrain]

Option 1 is not being worked on, and TTX claims they won't support it this year.  (though, folks who use Desktop software can manually correct the problem in Forms Mode)

Option 2 is working....BUT...if you are not seeing it on your forms for line 11 on Schedule 3, then try deleting both your W-2 forms, and re-entering them  (being careful to select the right person if filing jointly with spouse).

Also, make sure that box 4 is exactly 6.2% of box 3 on each W-2. 

.....Or...if you are high income for one-or-more W-2 forms, make sure that box 3 is not greater than 132,900 and box 4 is not greater than 8239.80.

[pbernick]

Thanks I have a funny feeling that this could be part of the problem....I did max out on one of the W-2's so the percentage would not be 6.2%  but something less and then in the other W-2 it would be 6.2%...that may be why Turbo Tax is not picking it up.  I will try and delete them and reenter to see if it fixes it.

[SteamTrain]

1)  make sure the box 3 value is no greater than 132900 on that max'd out W-2.   IF it's greater on your paper W-2, then you'll need a corrected W-2 from that employer.

2) The second W-2 must be from a clearly different employer, with a different Employer  EIN  ....or no Sched 3 will show up.