Social Security Tax Withheld - Preparing Your 1040

Step 9: Payments

African couple adding up receipts
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Tax payments are reported on lines 63 through 70 of your Form 1040. The payments are applied to your total tax (line 62) and result in either an overpayment (tax refund) or underpayment (balance due). Tax payments include:

  • Withholding,
  • Estimated tax payments,
  • Earned income tax credit,
  • Excess Social Security withholding,
  • Additional child tax credit,
  • Payment made with an extension, and
  • Other payments.

Line 64: Withholding on W-2 and 1099

Gather your W-2 and 1099 statements.

Look in Box 2 of your W-2 statements, and look in Box 4 of your 1099 statements. The figures in these boxes report how much income tax has been withheld from your income. Using a calculator, add up all these amounts, and report the total on Form 1040 Line 64.

Remember to attach one copy of your W-2 statement to the front of the Form 1040. If you have any 1099 statements showing withholding, you should attach one copy of that 1099 as well. Common situations in which there is withholding on a 1099 include:

  • 1099-G, Box 4: Withholding on unemployment income,
  • 1099-R, Box 4: Withholding on retirement income, and
  • SSA-1099, Box 6: Withholding on Social Security benefits.

Less common situations in which there is withholding on a 1099 include:

  • 1099-INT, Box 4: Withholding on interest income,
  • 1099-DIV, Box 4: Withholding on dividend income, and
  • 1099-MISC, Box 4: Withholding on miscellaneous and non-employee compensation.

    Line 65: Estimated Tax Payments

    If you made estimated tax payments throughout the year, add up your estimated payments and report the total on Form 1040 Line 65.

    Estimated payments include the following payments:

    • Quarterly payments using Form 1040-ES,
    • Periodic payments throughout the year using EFTPS,
    • Any refunds from 2004 applied towards your 2005 taxes (see your 2004 Form 1040, Line 73).

      Line 66: Earned Income Tax Credit

      Line 67: Excess Social Security Tax

      Excess social security tax is calculated based upon that year's maximum social security tax limits. For example, in 2015 the maximum Social Security tax was $7,347, which represented 6.2% of taxable Social Security wages on the maximum Social Security limit of $118,500. Look at all your W-2 statements, Box 4. This shows your withholding of Social Security taxes. Add up all the amounts in Box 4. Compare your total to the maximum Social Security tax. If the total exceeds the maximum, then you can claim the excess as a refund. The excess is your total Social Security withholding minus the maximum.

      If your total is less than the maximum, then you can skip Line 67.

      Line 68: Additional Child Tax Credit

      Claiming the Additional Child Tax Credit is a two-step process.

      First, fill out the Child Tax Credit Worksheet on pages 41-42 of the Instructions for Form 1040 (PDF). If your allowable child tax credit lower than your tax liability, then your tax credit was reduced. You may be able to claim the extra child tax credit using Form 8812 .

      Second, fill out Form 8812 Additional Child Tax Credit (PDF). Your additional child tax credit is limited to the lower of the following two amounts: the actual excess child tax credit, or 15% of your earned income over $10,750.

      Report your additional child tax credit from Form 8812, Line 13, on your Form 1040, Line 67.

      Line 69: Payment with Extension

      If you filed for an automatic extension using Form 4868 and you made a payment with the form, put the payment amount on Form 1040 Line 69.

      If you did not file for an extension or did not make a payment with your extension, then you can skip Line 69.

      Line 70: Other Payments

      If you made any payments using Forms 2439, 4136, or 8885, then check the appropriate box or boxes on Line 70 and report the payment amount.

      Form 2439 reports undistributed long-term capital gains to shareholders of regulated investment companies or real estate investment trusts. Your payment amount is in Box 2.

      Form 4136 reports federal taxes paid on gasoline and other fuels and you used the fuel for allowable non-taxable purposes.

      Your payment amount is on Page 2, Line 10.

      Form 8885 reports a tax credit for certain displaced workers who paid for continued health insurance after being laid-off. You will receive Form 8885 if you were an eligible trade adjustment assistance (TAA) recipient, alternate TAA recipient, or Pension Benefit Guaranty Corporation pension recipient, and you were covered by an eligible health insurance plan. Your tax credit amount is reported on Form 8885, Line 7.

      Line 71: Total Payments

      Add the amounts on Form 1040, Lines 64 through 70. Report the total amount on Line 71. This amount represents your total tax payments throughout the year.