Credit for excess Social Security deductions on my W-2s

Forum|Forum|1 year ago
January 21, 2025
2 replies
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In past years when switching employers and having excess Social Security deductions withheld on my W-2, Turbo Tax alerted me to the fact. This year it hasn't done the same and does not appear to recognize my overpayment. My understanding is that for 2024 the calculated overpayment appears as a credit on Schedule 3 and flows to Form 1040. Can I verify this before paying Intuit?

TurboTax Deluxe Online

Best answer by MinhT1

Yes. You can preview your form 1040.

In TurboTax Online, you can preview your form 1040 by following these steps:

Open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on View Tax Summary
In the left-hand column, click on Preview my 1040
Your form 1040 will display.
Scroll down to line 31 and you should see the amount which is transferred here from line 15 of Schedule 3.

MinhT1Answer

Yes. You can preview your form 1040.

In TurboTax Online, you can preview your form 1040 by following these steps:

Open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on View Tax Summary
In the left-hand column, click on Preview my 1040
Your form 1040 will display.
Scroll down to line 31 and you should see the amount which is transferred here from line 15 of Schedule 3.

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VolvoGirl

Employee

Somethings to check. Are you married? Be sure the W2s are both assigned to you. Also try deleting the W2s and re enter them Manually. That usually clears something and fixes it. Did you keep going past that screen? It may show up on the next screen or two.

For 2024 the max for Social Security is $10,453.20 on $168,600 of wages (168,600 x 6.2%).