Received a Relocation bonus of @$12K (untaxed) in 12/18 from the relocation company. We filed our tax return & paid the taxes on the bonus amount in 4/19.
If we cannot relocate within 12 mos., we are required to pay back the entire amount (or payment plan)
1. How do we determine the actual tax paid on the relocation bonus - we filed a 1040A (itemized)?
2. Forms to fill out to recoup the tax we paid this year?
3. Is there an advantage to paying off the entire amount or balance in 2019 or wait until 2020?
