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*not fixed*
I just ran TT today @ 4:22pm PST and received this same error. My SS tax is maxed at the $8537.40 limit.
When I previously ran it, there was no error.
I tried the suggested fixes with negative results.
It appears to be a bug in the software.
I have had exactly the same thing happen, and I do not owe any additional money. My box 4 is at 8537.40. That is frustrating.
Not resolved yet. I am getting the same error message on W2-S. I have tried adding $0.50.
Also, Turbotax was not allowing me to claim AOTC saying my son was not going to college. I am glad I found a community help page and got the issue resolved. Had to go through some extra hoops which did not show up initially. Looks like another bug this year.
Fixed.
Delete forms 7202 - Covid "Self-employment tax deferral"
I got the same message and didn't have my SS tax-deferred either. Were you able to get a solution from Turbo Tax?
The expert I chatted with found no errors in my return and he pointed me to this community. Based on inputs it seems to be a rounding issue in TurboTax. The amount of the social security deduction should be 6.2%. When I calculated mine it came to 6.199%. A W2-c should not be coming and I went ahead and filed my return. I believe I read an entry earlier that said TurboTax corrected their software issue. So, I'm ignoring the alert I received.
It is not coming from W-2 "error". It is form 7202 that generates this message.
Getting the same thing, which really blew my mind since I'm an owner of the company and certainly do not have a W-2c on the way. Pretty sure I'd be aware if we were sending those out and we haven't participated in any deferment. Glad to see it appears to be a software issue and not the conundrum I first feared.
That's the thing. I didn't need nor use Form 7202. I believe it's not a W2 error but a rounding problem with TT that reports the SS tax withheld as below 6.2% based on the W2 input.
you might be right. However, click on forms and check if 7202 was generated. If yes (with balance 0) then delete it and the message about W-2c will no longer appear
If Box 4 (Social Security Tax) of your W-2 is $8,537.40, you've paid the maximum amount of Social Security Tax for 2020 and have not deferred any tax. You won't be receiving a W-2c for 2020 (at least not for this issue).
I received the same prompt about W-2c. Note: Max Wages subject to Social Security Tax Withheld for 2020 was $137,700 with Tax Rate = 6.2%. Quick Calc of Max Tax Withheld = $8,537.40. My W-2 form block 4 reads $8,537.40. Therefore, there is a bug in the TurboTax Premier Software. Recommendation: "Fix The Glitch."
I am getting the same error message.
same issue
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