Are either the Social Security Tax (Box 4) or Medicare Tax (Box 6) deductible? I don't see anywhere other than line 69 of 1040 (Excess Social Security Tax) that mentions either, so I don't think they are.

Is there a reason they are included on the W-2? They just seem like superfluous numbers to me (other than, of course, letting you know exactly where your money went)

  • You can go to the IRS website and get an update of your social security payments, and an estimate of what you will receive when you reach retirement age. – mhoran_psprep Jan 11 '14 at 19:03

No not deductible. But - If you work more than one job, you run the risk of having too much SS withheld. Each employer doesn't know what the others pays you. Tax time reconciles this.

And much thanks to Dilip for the following clarification - Not only does each employer not know what the others pays you, but even if you tell him, he will not care. He is required to withhold Social Security tax on the wages he pays you (and send in an equal amount as his contribution) regardless of what anyone else pays you. If the sum of your taxable wages from all employers exceed the maximum wages subject to Social Security, the excess withholding is credited towards the income tax due (and thus reduces the amount to be paid or increases the refund you are owed) but the employer's (excess) contribution that he sent in is not returned to him.....

Also, there is no such things as excess Medicare tax having been withheld because there is no maximum wage beyond which Medicare tax does not apply.

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