Social Security Tax Withholding Maximum

[Sbbk09]

What is the limit for Social Security Tax Withheld when married filing jointly and both spouse and I paid standard 6.2% on our W2?

[SteamTrain · Accepted solution]

For 2020, the limit is 8537.40  ...  Per Person.   For any SS taxes withheld in each person's W-2 forms...respectively.   It usually only happens to exceed that if a person has 2 high paying jobs where box 3 is  137,700 or less on each, but whose total for the two is greater than 137,700.

for 2021, it will be 8853.60

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The amount paid can be higher if a person is self-employed, because a self-employed person has to pay both halves of the SS 6.2% of the ~net income (with some minor fudging)....ie approx 2x6.2% = 12.4% for SS. 

[Sbbk09]

Yes this answers my question, the maximum is per person not per household. Thank you!

[ghamil]

my question is why the turbo tax software says i have had too much social security taxes withheld but it is 8853.60, which is supposedly the max. Is there a glitch in the software? It doesnt let me file without changing that.  Any suggestions?

[FangxiaL]

To resolve the issue, please enter only the whole dollar amount without the cents. TurboTax rounds up the amount when you enter the cents and it causes the error.