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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.

 

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1 Best Answer

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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 8

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.