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Get your taxes done using TurboTax
Hi @Opus 17 ,
I've a similar question but slightly different.
I received $15k signing bonus in 2019, and quit my job in 2020. I have to now repay 50% of it minus Social Security/Medicare which is approximately ~$7k.
Option 1: I could either repay the $7k, and ask for a tax refund in my 2020 return
OR
Option 2: I'm eligible to receive my 2019 annual bonus (~$10k before tax), and my former employer is fine with adjusting my $7k obligation against this annual bonus. In your opinion, is this okay to do, and would I lose money with this option vs. Option 1.
I'd really appreciate your input. Thanks so much for your time!
-Aashish
‎June 18, 2020
5:16 PM