excess social security tax taken

Forum|Forum|4 years ago
February 13, 2022
4 replies
19 views

Social security taxes to limit taken on W2 earnings through June, Pro Series charges SS tax on later self-employment earnings beginning July. Don't see how to adjust for this on self-employment earnings, which affects contribution to SEP.

ProSeries Basic

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Best answer by BobKamman

Are you sure it's not just adding Medicare tax?

Just-Lisa-Now-

Intuit Community Champion

Are you saying the program isnt capping the SS taxes based on all earnings subject to SS?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

M

MTFILER1130Author

Level 2

I am saying that but I was wrong. It was just on going Medicare tax on another $209,000 of self-employment earnings. Thanks for answering.

sjrcpa

Level 15

Did you enter the Social Security wages and withholding?

Are the W-2 and self-employment income marked correctly for taxpayer or spouse?

The more I know the more I don’t know.

BobKammanAnswer

Level 15

Are you sure it's not just adding Medicare tax?

M

MTFILER1130Author

Level 2

That's it of course. Forgot about no limit on medicare tax. Thank you so much.

PATAX

Level 12

Make sure both the schedule C and the W2 are marked properly, i.e. for the same taxpayer, marked t, or spouse, marked s. I can see how this may happen, but I'm not sure why. Did you try overriding the Social Security tax to the correct amount? Just my opinion.

ljr

Level 9

make sure you have the schedule c checked for the correct person

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