Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

excess social security tax taken

MTFILER1130
Level 2

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.

 

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
BobKamman
Level 15

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

View solution in original post

7 Comments 7
Just-Lisa-Now-
Level 15
Level 15

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


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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.
BobKamman
Level 15

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

PATAX
Level 15

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 10

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

MTFILER1130
Level 2

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

MTFILER1130
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.