Sarah received a 2018 Form W-2 from 2 different employers. The amounts reported in Boxes 3...

Sarah received a 2018 Form W-2 from 2 different employers. The amounts reported in Boxes 3 and 4 of her W-2s is provided below. What amount of excess social security tax (if any) should she report on her 2018 Schedule 5, Line 72?

	Box 3: Social security wages	Box 4: Social security tax withheld
Employer #1	87,600.00	5,431.20
Employer #2	55,250.00	3,425.50

Expert Solution

For 2018, the maximum Social Security to be withheld is $7960.80 based on maximum wages of $128400

Social Security withheld = 5431.20+3425.50 = $8856.70

Amount of excess social security tax to be reported report on her 2018 Schedule 5, Line 72 = 8856.70-7960.80 = $895.90

ekkarill92 answered 2 years ago

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