“Since you deferred your SS tax last year, you get W-2c from your employer., The full Turbotax statement is “Heads up! Since you deferred some of your Social Security taxes last year, you’ ll get Form W-2c from your employer once you’ve repaid what you deferred.
Why does turbotax say i’m getting a w-2c?
Last updated February 18, 2021 9:04 PM Turbo Tax says I’ll be getting a W-2c due to deferring social security taxes last year. I didn’t defer any taxes.
The help article notes “Based on your tax return info, you’ll get a W-2c because you deferred payment of some of your Social Security taxes last year. Your current W-2 doesn’t include the amount you deferred, only what you’ve paid.” To my knowledge, none of my SS taxes were deferred in 2020.
What does TurboTax see as a social security deferral?
, turbo Tax likely sees that there is a discrepancy in the amount of SS you should have paid. In response to a presidential memorandum signed August 8, 2020, Notice 2020-65 was issued on August 28, 2020, giving employers the option to defer certain employees’ Social Security taxes from September 1, 2020, to December 31, 2020.
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Will a corrected W-2 (W-2c) affect the filing of 2020 taxes?
These amounts were correctly entered in Turbo. Tax and yet the same advice regarding a corrected W-2 (W-2c) was issued. I can simply attribute this to software error. In any event, it doesn’t affect the filing of the 2020 return as was correctly stated by Turbo, and tax.
Then, will a 1099-nec show up on a W-2c?
An answer is that iF you happen to also have a 1099-NEC, or other cash self-employment income in your file, that W-2c notice may also show up. Apparently there is something in that section that needs a NO answer but I’m unfamiliar with that situation.