Deductions & credits

Thanks for the precise link which I'll explore!

 

So just confirming: in our specific case it doesn't matter that 2022 was under $3000 repayment.

 

For our Federal 2024 filing, I'll refigure my excess taxes paid for *both* 2022 & 2023, and, since our 2024 total repayment was >$3000, we can take a deduction for the total of both 2022's & 2023's tax overpayments on 2024's taxes. Correct?

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Put another way, in *our* specific case, it's effectively rephrasing your first sentence to read:

 

"A Claim of Right Repayment is a deduction you can take in the current tax year if you’re required to pay back income totaling in excess of $3,000 from 2 previous tax years that you thought you could keep.

Sorry for "beating what may be a dead horse," but I just want to make sure I understand 🙂