Anonymous
Not applicable

Get your taxes done using TurboTax

Hi @Opus 17 ,

 

Thank you for all your comments/advice on this thread. You appear extremely knowledgeable on this topic. 

 

I am in the same (slightly different) situation as the original poster. I am hoping you could clarify one point which has not been advised thus far. I also received the corrected W-2C form from my employer. Box 1 and 2 was left blank and I assume this may be correct, based on your responses (it was because the repayment took place in a separate year from the original payment - so they only managed to deal with the social security and medicare taxes). 

 

Therefore, I understand that I need to use the desktop version of Turbotax to file the return and manually edit the forms.

 

Here is where my situation is slightly different. I received $20k sign on bonus in July 2018. I left the employer on Jan 3 2020 and repaid 50% ($10k) of the sign on bonus on Jan 3 2020. So my question is, can I do as you explain above to claim the tax credit using the 1341 credit on my 2019 tax return, which I am currently working on now. Or because I made the repayment of taxes on Jan 2020, does this mean I cannot do this until next year's tax return (e.g. 2020).  In other words, does it matter when I made the repayment in terms of claiming that overpayment of taxes in a previous year? Or can I simply apply this to the 2019 tax return.

 

Thanks in advance for any advice you can provide.