If I received a w2c for tax year 2021, do I need to go back and amend my 2021 return or can I solve this another way while filing my 2022 taxes?

[ecpetiti]

the w2c was for 2021 overpayments that I have repaid

[fanfare]

there's no place on your 2022 tax return for a corrected 2021 W-2

[PattiF]

You may need to amend your 2021 return in TurboTax with the corrected W-2.  Here is how to amend a 2021 tax return that you completed in TurboTax.

But, an alternative to filing an amended would be to first check the differences found on the original W-2 and the corrected W-2. If the differences are not very large for Box 1 or Box 2, there may not be a need to amend your return. You could wait to see if the IRS contacts you about the corrected W2c if the differences are not significant.

@ecpetiti 

[Mike9241]

if the repayment was not in 2021 boxes 1 and 2 won't change. likely only 3,4,5 and 6 for which no amended return is required.  if the payment of wages was over $3000 and was done in 2022 you have the following options under Code Sec 1341

you can take as a deduction on schedule A line 16 denote as IRC 1341 repayment OR recompute the taxes in the year you received the payment by excluding the payment. the decrease in taxes is taken as a credit on schedule 3 line 12d denote as IRC 1341

[ecpetiti]

If the difference in box 1 is just under $135, does that mean I do not need to amend my return?

[ecpetiti]

The repayment took place in 2022. 

The difference in box 1 is just under $135.  There is no info in boxes 2,4,6.  Does this mean I cannot take the IRC 1341 deduction ?

[JohnB5677]

Unless you are getting an additional refund, there is no need to file an amended return.

For individual tax returns the IRS considers a substantial understatement of tax applies if you understate your tax liability by 10% of the tax required to be shown on your tax return or $5,000, whichever is greater. These conditions will result in a tax penalty in addition to the Income Tax you owe.

Substantial Understatement of Income Tax Penalty

If the IRS determines that you did owe additional Income Tax, they will send you a letter outlining the change that they observed and a proposed amount of additional tax.  If you disagree you can challenge their calculation.  If you agree, you can simply pay the proposed amount.  This process will take several months.