Hello,
Thank you for your reply yesterday. I like your suggestion of simply itemize an IRC-1341 deduction for the repayment in my 2023 Schedule A. Then I realized that I usually take standard deductions (married jointly) which is higher amount than the payback amount $16k. By taking the standard deduction, TurboTax will not include a Scheule A in my tax filing for 2023. Is my understand correct that I won't be able to use the IRC-1341 deduction approach if taking standard deduction?
To be able to take Standard deduction (for Married/Jointly) in my 2023 filing, should I proceed with the second suggestion of taking tax credit in Schedule 3? I can see the income tax amounts withheld specific to this relocation allowance from my 2020 paystub.
Will I include all tax amounts (Fed, CA, Medicare, Social Security) as one tax credit in my filing for 2023 ( Schedule 3?)
Thank you
