Yes, we took $22, 000 and repaid $15,000. Total taxable income of $7,000. If I put it in to pay back this year, I owe $2000 federal. If I split it over 3 years, I get $904 back. That is a difference of $3,000. This means I would pay $9000 over 3 years for $7,000??? I think something is wrong.
