American Rescue Plan - Student Loan Repayment

[amygaboury]

I had a student loan repayment in 2021 paid by HRSA. This is covered under the American Rescue Plan but it had not passed when I filed in 2021 so I need to amend my taxes. How do I account for the federal taxes taken out of the money they gave me for repaying my loan? It was all on a W-2.

[ThomasM125]

I think you mean you received a W-2 form that reported federal income taxes withheld from the gross wages reported on the form. If so, they would be reported in box 2 on the W-2 form. When you enter them into TurboTax on your amended return, they will show on line 12 of the amended tax return Form 1040-X. As such, they will be applied against your amended tax along with any other federal taxes withheld to determine if you owe additional tax or will receive a refund.