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Amended Tax Return

Hi, 

 

I received an amened tax return from my employer from last year. It was a commission based job that I had to pay back this year. When I received my amended tax form, section 1 and 2 were not changed, but boxes 3 to 6 were. Is this something I should check with the previous employer about, or does this make sense?

 

Thank you 

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1 Best answer

Accepted Solutions
Cynthiad66
Expert Alumni

Amended Tax Return

If you had to repay an amount that you included in your income in an earlier year, you may be able to deduct the amount repaid from your income for the year in which you repaid it; OR if the amount you repaid is more than $3,000, you may be able to take a credit against your tax for the year in which you repaid it.

 

A Claim of Right Repayment is a deduction you can take in the current tax year if you're required to pay back income over $3,000 from a previous tax year that you thought you could keep. You reported and paid taxes on the money, not knowing you'd have to pay it back.

 

What is a Claim of Right Payment

 

@Swbookworm89 

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4 Replies
Cynthiad66
Expert Alumni

Amended Tax Return

We'd love to help you complete your tax return, but need more information. Can you please clarify your question?

 

Please provide the form number of the document received from your employer.  Was it a Corrected form?  Are you asking if you need to amend your tax return?

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Amended Tax Return

Hi, 

 

I received a W-2c for a tax return. I worked a commission based job, with a recoverable draw. In 2023 when I filed my taxes for 2022, I had the initial income from the draw. Since I did not make any money from the job, I had to pay back the entire draw in 2023. I recently received the W-2c. They did not change my Wages or Federal tax withheld. They also did not change my State Income Tax. Is this something, I should contact them about?

 

Thank you for your help. 

Cynthiad66
Expert Alumni

Amended Tax Return

If you had to repay an amount that you included in your income in an earlier year, you may be able to deduct the amount repaid from your income for the year in which you repaid it; OR if the amount you repaid is more than $3,000, you may be able to take a credit against your tax for the year in which you repaid it.

 

A Claim of Right Repayment is a deduction you can take in the current tax year if you're required to pay back income over $3,000 from a previous tax year that you thought you could keep. You reported and paid taxes on the money, not knowing you'd have to pay it back.

 

What is a Claim of Right Payment

 

@Swbookworm89 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Amended Tax Return

Thank you so much for the information it is really appreciated and helped a ton!

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