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Tax pros, question.
I can't figure this one out. We have a moderately complicated return, I have two W-2s, a 1099 MISC and my wife also has a 1099 MISC. She has a small consulting business.
My question involves overpayment of social security tax. I overpaid the tax this year due to being employed by two separate entities during 2009. I overpaid by about $1300. I file with Turbotax. I did my return, everything was going fine until I got to the end where I could e-file. During the pages in Turbotax where they are trying to sell you audit insurance and such my refund dropped by about $1300 for no reason. Nothing was added or subtracted from my return. I went and looked at the return and the refund of social security tax was now listed as $0. I could not figure out why. So, I deleted the return and started all over. Son of a ***** it happened again exactly the same way!
Is there some situation where the limit on the social security tax is lifted? Unfortunately (or fortunately depending on how you look at it), we made enough to be subject to AMT this year and that cost us another $1100. Originally Turbotax did not have us subject to AMT but by the end of the return it did.
I'm not going to lose sleep over it, we got about the same refund this year as we did last year, but if there is $1300 out there that is mine, I'd like to have it back.
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Rick
1984 911 coupe
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