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    tableclocks's Avatar
    tableclocks Posts: 432, Reputation: 2
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    #1

    Jan 19, 2011, 12:54 PM
    Taxs paid on to much SS
    I made at work.. 40,160... wife and I made 116,000... plus I got 20,000 in SS.. I made about 16,000 over the 14,160 limit... I will have to pay back SS about 8,000 in 2011... however.. I will be paying tax on 85% of the SS which is 17,000
    But of the 20,000 I have to pay back in 2011... so where or how do I get a credit for the over payment of the taxs paid on the 8,000 that I have to pay back... hope I explaned it right... thank you for your time and help... richard
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 19, 2011, 09:53 PM
    I do not do computations for payback requirements for those who work and receive Social Security before FULL retirement age, but, offhand, I do not think you will GET a credit for the payback amount.
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