I received a sign-on bonus of $10k in 2022. l left the employment in Mar 2023, and have repaid a prorated amount of $7900 using after-tax money.
The employer issued me a 2022 W-2C, which showed corrections in boxes 3-6. The amount difference of Social Security and Medicare after corrections (together approximately $600) was subtracted from the balance I owed to the company.
My questions are:
1. Is it correct that I don't need to deal with SS and Medicare parts since the company has issued a W-2C and the amount I overpaid (i.e., $600) has been refunded to me (because I did not repay this amount)?
2. What's the right time of year to claim the overpaid federal and state taxes? The bonus repayment was completed in Mar 2023. I haven't filed my 2022 tax returns yet. Can I claim the overpaid federal and state taxes now, or should I wait till 2024 when filing 2023 tax returns?
3. When deducting the repaid amount in "Deduction and Credits--Other Deductible Expenses" on Turbotax software, should I put the repaid amount of $7900 (the company stated in a letter) OR $7300 (the actual amount I paid, subtracting the $600 refund I received from SS and Medicare)?
Thank you very much for the help.
