Short version: In 2021, I had to repay my employer part of my sign-on bonus that I was granted in 2020. As a result I overpaid my NY state taxes for the tax year of 2020. I have been told I need to claim a "IRC 1341 credit" when I file the taxes for 2021, in 2022. If so, how do I adjust my NY state taxes? Do I need Turbo Tax Desktop for this or will Turbo Tax Online do it for me? Or is this too complicated that it warrants a in-person CPA help?
Details:
- I joined a company in July 2020 and got a sign-on bonus, at the time of joining.
- I left the company in March 2021, before a year was up. Upon my departure, as part of the sign-on bonus agreement, I was asked by the company to pay back part of the sign-on bonus.
- I repaid the bonus clawback in Jun 2021. I am not sure if I will get an adjusted W2 from the company or not.
- I have already filed my taxes for year 2020, but haven't gotten the refund yet because of IRS delays
