Tax - Social secutiry withhold and Medicare withhold?

Question

Are those items suppose to be somewhere in the 1040 or schedule A? If yes where?

Answer 1

No those are not expenses that are deductible on the Federal Tax return

Answer 2

no they are not, you get no deduction for the SS or med shown on the w-2 and it is not shown on the tax form...it is entered when the w-2 info is entered if you are filing efile but it will not show up on your return itself
the only time u get a credit involving the SS/med tax is when you have to file a schedule c (1099 income or business income) and you are going to have to pay self employment taxes which is social security and medicare and for that you get a credit of half the self employment taxes...

Answer 3

Generally, social security and medicare taxes withheld are not reported on your tax return. They are not deductible, and you do not get credit for it on your return like you get credit against your federal tax liability for the federal income taxes that was withheld. I say GENERALLY because there are specific instances where you can get some of your social security withholding refunded to you. The social security wage base that is used to calculate your social security tax withholding has a maximum cap ($97,000). If you worked for one employer and earned more than the maximum social security wages, they should have stopped withholding social security once you exceeded wage limit. There may be rare instances where your employer did not stop the withholding. In that instance, you need to contact your employer and they need to refund you the excess social security withheld. A more common occurrence is where you switch jobs during the year, and/or worked for two (or more) employers. Each employer may have paid you less than the social security maximum for the year, so they would have withheld social security. However, if you add up your wages for the full year, your total wages subject to social security may have been greater than the social security limit. For example, you earned $60,000 for working for one employer during the year. You quit your job and started working for a different employer during the year and was paid $70,000. Both employers would have withheld social security on the full amount of wages you received from them. However, in total you earned $130,000 during the year, which is above the maximum social security wage base. Therefore, you would have had excess social security withheld and in this case, the excess would be reported as if it was additional federal income taxes withheld and you would get credit for it on your tax return.

Answer 4

No, you don't report those anywhere on your tax return.

Answer 5

Those things are withheld from your paycheck for your future, you do not pay taxes on them or claim them on your form.

Answer 6

No, those don't go on your return.