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Social Security Tax Withheld

TurboTax indicated too much SS tax was paid and that I will get a credit on my tax return. The actual wording states: 

 

When you file your tax return the following year, you can claim a refund from the IRS for Social Security taxes withheld that exceed the maximum amount.

 

Do I receive a credit automatically for this year's tax 2023 or next year 2024?

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1 Best answer

Accepted Solutions
BillM223
Expert Alumni

Social Security Tax Withheld

Did you have more than one W-2 and from different companies? I just want to make sure which condition triggered this message.

 

If it is the "common" case of two high dollar W-2s withholding in the aggregate more than $9,932.40 for Social Security tax on a maximum SS Wage base of $160,000, then TurboTax will calculate the excess (over $9,932.40) and put it on line 11, Schedule 3 (1040) on your 2023 return.

 

If this was triggered by a different condition, then the return of the excess may happen differently.

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2 Replies
BillM223
Expert Alumni

Social Security Tax Withheld

Did you have more than one W-2 and from different companies? I just want to make sure which condition triggered this message.

 

If it is the "common" case of two high dollar W-2s withholding in the aggregate more than $9,932.40 for Social Security tax on a maximum SS Wage base of $160,000, then TurboTax will calculate the excess (over $9,932.40) and put it on line 11, Schedule 3 (1040) on your 2023 return.

 

If this was triggered by a different condition, then the return of the excess may happen differently.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Social Security Tax Withheld

if you have a spouse that got a w-2 make sure it's checked as your spouse's. there have been some threads  about taxpayers claiming excess social security withheld because they miscoded their spouses W-2. if they are all you w-2's you'll get a tax credit on your return. if it's one employer over withholding, you go back to them for a refund.

if they refuse you would ned to file form 843 and attach a copy of tour w-2 that has the overwithholding. 

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