DaveF1006
Expert Alumni

Get your taxes done using TurboTax

The 2% miscellaneous was suspended in 2017 through the Tax Cuts and Jobs Act so the entire $75,000 can be claimed as a Right of Repayment.  It would need to be recorded in two separate entries in TurboTax.

 

  1. Go to the Deductions and Credits Section of your return.
  2. Go to Other Deductions and Credits
  3. Other Deductible Expenses
  4. Go to Less Common Expenses
  5. Describe this as Repayment of Income Less than $3000 and record $3000 here.
  6. The next screen will ask if you have any of these other expenses, you will say yes since the Right of Repayment over $3000 is listed here.
  7. Tell us of your other expenses, here record $72,000 for Claim Right of Repayment over $3000.

[Edited 03/20/22|12:59 pm PST]

@rgm4 

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