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Get your taxes done using TurboTax
Hi @Opus 17
Firstly, thanks so much for your insightful answers!
To make sure I'm understanding correctly, in my current scenario where my ex-employer is adjusting my bonus repayment ($7k i.e. less SS/medicare) against my after-tax annual bonus, I forgo my $1800 and $420 state and federal claim of right tax credits on the 2020 tax returns? Is that correct?
And if so, it sounds like I don't lose out on any money versus cutting them a check of $7k, and then receiving my annual bonus separately?
Thanks again!
‎July 5, 2020
3:28 PM