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Tax refund from sign on bonus repayment
Could anyone help me on this issue: I received a $50,000 sign-on bonus when I started my job in 2022. However, I changed jobs in early 2024. In my last paycheck, I received a retroactive adjustment payment of approximately $8,000, while $10,000 was deducted as a repayment of the sign-on bonus. The W-2 I received for 2024 includes the total income as the sum of my regular earnings, the retroactive adjustment payment, and the sign-on bonus repayment. However, I had already paid taxes on the full $50,000 bonus in 2022. Am I eligible to reclaim a tax refund for the portion of the sign-on bonus I repaid?
March 16, 2025
9:25 AM