Sorry, I was confused by your response. If I pay back the $25000 in 2021 but deposited only $19000 in 2020 I lost $6000. In your response you mention that I will be able to deduct the amount in 2021 taxes since it is an income in 2020 but I repaid it back. So basically, I will get the $6000 in 2022 after filing taxes for 2021. I want to get the money back expeditiously from the government and it appears I will have to wait based on your response, is that correct? The confusing thing was your opening sentence that says I will get part of it back when I file 2020 taxes? How does that work if I will claim I paid back in 2021 tax filing. Also, the company is willing to send me a W2c once they receive the payment in full ($25000), if I receive it this year before filing 2020 then I should be able to file with this W2c and get all of it as part of 2020 tax filing, no? If get W2c late after filing 2020 taxes, I can still do amended return and get back most of the money correct?
