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Retirement tax questions
This is not a tax that is deductible. Rather Tier 1 it is the social security and medicare tax equivalent and the Tier 2 taxes imposed on railroad employees, employers, and employee representatives are a source of funding for benefits under the Railroad Retirement Act.
Enter the W2 exactly as it appears and TurboTax will calculate the correct taxable wages.
‎June 7, 2019
4:24 PM