Don't despair. I have your file in front of me. I noticed two things that caught my eye. First of all, your Wage amount of $93,452 and your elective deferral amount is $11,585. The total is $105,037. You reported $107,859. Not sure how you got this amount, but you may need to change this in the section where you reported the uncollected FICA taxes.
Now here's the part you will like. You need to exclude either $107,859 or $105,037. You doubled your income by reporting the uncollected FICA taxes but now you are going to exclude it, leaving just the uncollected FICA reported in your return. Here is how to exclude the income.
- Log into your account
- Select Wages and income
- Less Common income
- Miscellaneous Income, 1099-A, 1099>start
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed. Here you can describe this as Same W2 Income Reported Twice and represent it with a negative number. (eg -107859)
This will now reduce your tax due significantly because all that remains is the 8919 reporting your uncollected FICA taxes. These will be reduced more if the income I calculate is $105,037. I may be wrong if there's something i overlooked.
@aashish98432
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