Thank you. Do you know how the repayment calculation works?
If you take out 50K pay 5K in taxes and you repay 21K -
is the math: 50K - 21K = 29K and that is spread over three years minus the 21K (repay)
Turbo tax is taking the 50K dividing it by 3 or 16,667 and then subtracting 21,000 (repayments)
If they apply all the repayments this year - what about 2021 and 2022? I'd owe 16.7 every year if I don't prepay in 2021?
can someone explain the repayment calculation?
thank you
