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

[jdegeorge]

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!  😉

[DoninGA · Accepted solution]

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. 

[jdegeorge]

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