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Taxable Relocation Repayment
Hi,
In 2022 I received taxable relocation assistance of $38k, with a 2-year retention clause. I am taking a new position and will have to repay $10k in 2023. How should I treat this on my taxes? Do I file an amended tax return for 2022, and request an amended W2? Is there a mechanism for reducing my taxable income in the current year for the same amount?
Thanks!
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‎February 26, 2024
1:09 PM