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coleenb70
New Member

Overpayment of medicare tax - looks like we have paid too much for medicare tax, how can I tell on my return that they have not it has been credited to line 71

 
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CherylW
Level 3

Overpayment of medicare tax - looks like we have paid too much for medicare tax, how can I tell on my return that they have not it has been credited to line 71

You can't pay too much on Medicare--you pay 1.45% no matter how much you make.

You either

a.)  had more than 1.45% tax withheld for Medicare from your wages.  You'll have to go to your employer to have that fixed.

b.)  had more than 6.2% Social Security tax withhold.  The upper limit is $127,200 which means the max is $7,886.40.

You'll see the amount that you paid over that on line 71 of your Form 1040.  To see:

1.       Go to Tax Tools on the left-hand side.

2.       Go to Tools.

3.       Go to View Tax Summary.

4.       Click Preview my 1040 from the left-hand side.

 

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