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Due to multiple jobs we have paid over 10k more in social security then we needed to. Turbo tax informed us of this but stated we will have a credit on our return?

Forum|Forum|3 years ago
January 13, 2023
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The IRS still owes us over 7k from last year and I don’t know what a credit on our return means? I would like this returned back to us but I’m not sure if there is a way to do this?

TurboTax Deluxe Online

Best answer by VolvoGirl

For 2021 or 2022? Any SS excess paid will be included on your return and in your refund.

For 2021 the max for Social Security is $8,853.60 on $142,800 of wages. For 2021 it will be on Schedule 3 line 11 which goes to 1040 line 31.

For 2022 the max for Social Security is $9114.00 on $147,000 of wages. For 2022 it will be on Schedule 3 line 11 which goes to 1040 line 31. The Social Security overpayment on line 31 is included in the total refund on line 35a.

And the max is for each spouse, not combined. You only get the excess SS back if one person had more than the max, not both combined. If one spouse had more than 1 employer and paid more than $8,853.60 in Social Security tax (box 4) combined you get the excess back on your tax return.

Did you get your 2021 Refund? The IRS is taking a long time to process returns. When did you file? Was it Accepted?

DoninGA

Employee

If you are referring to the 2022 tax return and you personally had two or more employers where the total of all Social Security tax withheld was more than $9,114, the excess SS taxes withheld is entered on your federal tax return Form 1040 as a tax payment on Line 31.

This tax payment will be included in your federal tax refund or it will reduce the amount of taxes owed.

VolvoGirlAnswer

Employee

For 2021 or 2022? Any SS excess paid will be included on your return and in your refund.

For 2021 the max for Social Security is $8,853.60 on $142,800 of wages. For 2021 it will be on Schedule 3 line 11 which goes to 1040 line 31.

For 2022 the max for Social Security is $9114.00 on $147,000 of wages. For 2022 it will be on Schedule 3 line 11 which goes to 1040 line 31. The Social Security overpayment on line 31 is included in the total refund on line 35a.

And the max is for each spouse, not combined. You only get the excess SS back if one person had more than the max, not both combined. If one spouse had more than 1 employer and paid more than $8,853.60 in Social Security tax (box 4) combined you get the excess back on your tax return.

Did you get your 2021 Refund? The IRS is taking a long time to process returns. When did you file? Was it Accepted?

Hal_Al

Employee

Prior to going on Form 1040 as a tax payment on Line 31, the Excess social security tax withheld goes on line 11 of Schedule 3. It was the same on your 2021 tax return (line 11 of Sch 3). If you failed to enter it, you will need to file an amended 2021 return.

The return of excess social security tax withheld, thru this method, is only for multiple employers. If you had a single employer who withheld too much, you have to get it back from them.