Question

Excess FICA withheld and how to claim as a credit in Turbo Tax against my federal tax liability

Forum|Forum|1 year ago
March 6, 2025
2 replies
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I work for a company that has multiple legal entities. I received 2 W2s in 2024 and the total amount of FICA withheld exceeded the maximum of $10,453.20. I have letter from my employer that I can file with my tax return, but I found no option (so far) in Turbo Tax to even claim this excess as a credit to be deducted from my federal tax due.

T

ThomasM125

When you enter your W-2 forms in TurboTax your excess social security tax withheld will appear on line 11 of Schedule 3 and from there go to line 31 of your Form 1040. So it will be credited from your income tax, all you need to do is enter the W-2 forms.

To view your form 1040 and schedule 1 to 3:

Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
Choose Tools
Choose View Tax Summary
See the Preview my 1040 option in the left menu bar and click on it
Choose the Back option in the left menu bar when you are done

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VolvoGirl

Do the W2s have different EIN employer numbers on them in box b above the employer name? If they don't then that could be a problem.

For 2024, If you had more than 1 employer and paid more than $10453.20 in Social Security tax (box 4) combined you will automatically get the excess back on your tax return. If you are married it is for each spouse separately. Be sure each W2 is assigned to the right spouse. For 2024 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 or reduces a Tax Due on line 37.