Question

The program tells me my employer took too much SS tax. But, when I calculate based on the TurboTax equation, it looks correct. What should I do?

Forum|Forum|4 years ago
September 12, 2021
1 reply
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Equations says to multiply amount in box 3 by 0.062. When I do that, I come up with the same number that is on my W-2. So why is TT telling me my employer withheld too much? I don't know how to sort this out and I can't file until I do.

TurboTax Free Edition Online

M

Mike9241

is box 3 more than $137700 or box 3 plus box 7 more than that? that's the maximum wages and tips for social security in 2020. if either is true your employer taxed too much. in that case, you need your employer to correct the w-2.

Critter-3

You checked the W-2 but did you also review what was entered in the program on the W-2 entry screen ... it could be a data entry error involving a comma or decimal point or an import error.