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Get your taxes done using TurboTax
Thank you so much for your response!
Since I filed my taxes last year, I was taxed on the gross amount that I am repaying this year. For example, if the gross wages for that period is $15,000. I was then taxed accordingly.
This year, they paid me the correct payment for that period, which already had withholdings. Now, I am paying back the $15,000 (so including the withholdings). Maybe I'm going about the wrong logic, but it seems like while I will get credit back for the tax that I paid last year on this gross amount, I am "out" the withholdings that I will be paying back to my employer this year. Is that the wrong way to think about it?
‎September 16, 2020
10:21 AM