Hi,
I have been reading and rereading this threat for awhile and think I have it figured out minus one piece. I did the same thing as another person here: got a bonus in 2018 and repaid it in 2019. I received a W2C for 2018 with boxes 2-6 corrected, but not box 1 (as expected). I recalculated my 2018 taxes uses the W2C two ways: as the W2C looks (not manually subtracting from box 1) and by subtracting box 1. It is my understanding the latter of those values is my credit to be received on my 2019 taxes. However, when I read Pub 525, it calls out "repaid wages subject to social security and Medicare taxes" as a separate option and that I need the employer to refund that. If I use my W2C to calculate a credit for 1341, doesn't that include those taxes (boxes 3-6 are modified)? The IRS pub implies I just change box 1 and nothing else to get the credit, but then what good does the W2C do me?
Thank you!
