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Confused about W2C after repaying employer for sign-on bonus
I joined a company in 2023 and got a 50k sign on bonus. I was there for approximately 4 months so I had to return a total prorated amount of ~33k. I paid them back the "post tax" prorated amount of ~20k in the same year but they didn't cash it until 2024 so they issued me a W2C.
On the W2C:
-They reduced box 3 and 5 by ~32k which is approximately the pre-tax amount that I owed
-They reduced box 4 and 6 by a couple thousand dollars too
I'm just really confused on what my next steps are and what credits I can claim before I file my 2023 tax return, especially because box 1 on my W2C wasn't corrected.
I'd really appreciate any guidance or help on this matter, thank you so much!
Topics:
March 8, 2024
12:53 PM