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berylttax
Level 1

Turbotax Taxcaster calculation question

I just used TaxCaster.  Is the "federal tax owed" estimate inclusive of social security and medicare contributions or exclusive?  Many thanks.

1 Best answer

Accepted Solutions
JaredS_CPA
Employee Tax & Finance Expert

Turbotax Taxcaster calculation question

Hello berylttax,

Thank you for participating in the Ask the Expert event. As to your question, the TurboTax TaxCaster estimate is exclusive of social security and medicare calculations as it only estimates your federal income tax withholding.

I hope that helps.

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

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1 Reply
JaredS_CPA
Employee Tax & Finance Expert

Turbotax Taxcaster calculation question

Hello berylttax,

Thank you for participating in the Ask the Expert event. As to your question, the TurboTax TaxCaster estimate is exclusive of social security and medicare calculations as it only estimates your federal income tax withholding.

I hope that helps.

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

View solution in original post

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