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Level 3
posted Jan 25, 2022 1:49:59 PM

TTAX Premier states that Social Security was Over Withheld by $0.01

TTAX Premier is telling me that my social security was over withheld by $0.01 on one of my W2s.  The withholding is correct....6.2% of the amount in Box 1.   Manually calculated, the SS has a fraction.  It's .145 so my employer rounded up to .15.  TTAX says it should be .14.

 

Is this a glitch in the program?  I believe that the rounding is correct.

 

TTAX is warning me that I should not file the return unless I get a corrected W2.  This seems crazy.

 

HELP!  😉

0 2 267
1 Best answer
Level 15
Jan 25, 2022 1:55:02 PM

Just reduce the amount of SS taxes withheld by $0.01 on the W-2 so you can e-file and will no longer receive this message.  None of the SS taxes withheld are entered on a tax return. 

2 Replies
Level 15
Jan 25, 2022 1:55:02 PM

Just reduce the amount of SS taxes withheld by $0.01 on the W-2 so you can e-file and will no longer receive this message.  None of the SS taxes withheld are entered on a tax return. 

Level 3
Jan 25, 2022 6:39:17 PM

Hi DoninGA


True.  I will e-file and since the W2 doesn't get submitted electronically, it doesn't matter that the ER's copy of the W2 doesn't match what I entered into TTAX.


Thanks!
Jim