storieg
Level 1
12-07-2019
04:28 AM
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This is a Medicare/Medicare Tax Question: Have a client with two W-2s: One standard with $208,564.88 in Medicare Wages and $3,101.27 withheld; the second is an executive pension plan (deferred Comp) with Medicare wages of $695,149.65 and Medicare tax withheld $16,336.02. So total medicare wages of $903,715 and total withheld on W2s of $19,437. So total medicare tax due is $13,104 (1.45% times all) and $6,333 (0.9% times $703,715--filing single). So the amount withheld on W2s is equal to total medicare tax due. However, still picking up $6,333 on 1040 Line 14 (from Form 8959). It seems client is being double taxed... tips on how to fix? Do I need to override? If so, how?
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