DavidS127
Expert Alumni

Deductions & credits

Yes, you should receive a 2018 Form W-2C for the 2018 wages you repaid in 2019, but it will not need to be entered for either 2018 or 2019Because of the Tax Cuts and Jobs Act, you can no longer claim the repayment as a reduction if the repayment is $3,000 or less.  So, you don't need to do anything else on your 2018 or 2019 taxes.

 

The 2018 Form W-2C will not correct the amount of wages and taxes withheld, it will only correct the amount of social security and Medicare taxes.  And, you cannot file an amended 2018 Form 1040X with that 2018 Form W-2C.

 

Repayments of more than $3,000 are deductible as itemized deductions in the Federal>>Deductions and Credits>>Other Deductions and Credits>>Other Deductible Expenses section of TurboTax.

 

See the IRS instructions for repayments at this link.

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