Should I go forward with filing if Turbo Tax says the employer held too much money, but when I do the math, the employee held the correct amount?

Yes, as long as you have double checked your entries against the W-2.  If the employer did not withhold too much, based on the numbers below, then your W-2 should be correct and filed as is, especially if it's rounding or just a few dollars.

The reason for any warning is that when the employer files his quarterly employer report of taxes, it's not possible to overpay based on the calculation on the form.  It doesn't hurt to check with your employer about your W-2 if you are unsure.

• Social security tax is 6.2% of your gross wage and medicare tax is 1.45% of gross wage. 
• Maximum gross wages subject to social security tax for 2020 is $137,700.