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samg2020
New Member

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

 
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DanielV01
Expert Alumni

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

It depends.  First, review the IRS procedure on claim of right repayments by clicking on the following link:  Repayments (Claim of Right. The website has not yet updated for Tax Year 2017, but the law and treatment has not changed.  You can find this same information in the 2017 PDF version:  Publication 525 - IRS.gov  and going to pages 33 and 34).

If your greater tax benefit is mentioned in Method #1, you may enter it by logging in to your TurboTax account, clicking on Take me to My Return, and then on Deductions & Credits.  Once there, go all the way to the bottom of the screen and follow the instructions you find in the next four screenshots:

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6 Replies
DanielV01
Expert Alumni

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

Two questions:  Did you itemize last year, and is that figure from Federal or a State Tax adjustment?
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samg2020
New Member

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

I did itemize last Year and amount was overpayement which was taxed and I have to pay it after tax. I paid both federal and state tax on that amount
DanielV01
Expert Alumni

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

Was this a repayment of income, federal income tax, or state tax?
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samg2020
New Member

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

Federal
DanielV01
Expert Alumni

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

It was an income adjustment.  Please see my answer and look at the publications which provide excellent guidance.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
DanielV01
Expert Alumni

I received certificate for income tax adjustment with amount I repaid more than 3000. How can deduct the amount in turbo tax. thank you

It depends.  First, review the IRS procedure on claim of right repayments by clicking on the following link:  Repayments (Claim of Right. The website has not yet updated for Tax Year 2017, but the law and treatment has not changed.  You can find this same information in the 2017 PDF version:  Publication 525 - IRS.gov  and going to pages 33 and 34).

If your greater tax benefit is mentioned in Method #1, you may enter it by logging in to your TurboTax account, clicking on Take me to My Return, and then on Deductions & Credits.  Once there, go all the way to the bottom of the screen and follow the instructions you find in the next four screenshots:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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