Jennifer_A
Employee Tax Expert

Retirement tax questions

In a Tuition Repayment scenario, if you repay more than $3,000 of wages you can take a "claim of right deduction" for the taxes incurred.    This article summarizes how to report the deduction in the TurboTax software.  If you choose the deduction, there is no need for a corrected W2 nor an amended tax return.

 

[Edited 6/28/2024|12:31pm PST]