TurboTax 2018 thinks that the maximum Social Security tax employee contribution for 2018 is $7,960.80. Multiple sources indicate 6.2% x $128,700 = $7,979.40?

Unfortunately, I couldn't find Intuit's forms for submitting bug reports. I guess they figure they don't need it.

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1 Best answer

New Member

Oct 30, 2019 7:03:43 PM

I can answer this one myself. The SSA changed the 2018 income maximum to $128,400 on November 27, 2017. This was a revision to their original amount of $128,700.

It appears that a lot of online references have not been updated even though they have had almost a year to do it. However, the Intuit team was on top of it. Way to go Intuit team!

Sources:

https://www.ssa.gov/news/press/factsheets/colafacts2018.pdf

https://www.shrm.org/resourcesandtools/hr-topics/compensation/pages/fica-social-security-tax-2018.as...