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Deductions & credits
@taxhelp37 wrote:
Opus 17, Thank you so much for your response.
Yes, the bonus was based on my staying at my employer for 2 years. But I plan to leave 6-8 months earlier for reasons mentioned below.
So I am guessing I did not have unrestricted right to the money
I would not disagree that you should use the itemized deduction and not the claim of right, but I am not a lawyer. If the itemized deduction leaves you significantly short compared to the claim of right method, you might consult a tax professional for an opinion. (For some people, the two methods will be identical, but the credit method will give a better recovery for some taxpayers.) Try it both ways before you decide what to do.
‎October 21, 2020
6:18 AM