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I am trying to enter a claim of right for a signing bonus I had to repay from a previous employer. I used Method 2 of IRC 1341 for my federal return and entered it accordingly as a tax credit. I am trying to figure out how to add this to a Michigan 1040 in TurboTax. The MI1040 instructions say to just add it to line 29 (Michigan tax withheld) with a note it is Claim of right, but this is a non-editable column in the TurboTax form. I could put it on Schedule W, but then it throws errors since it is set up for W-2 or 1099-R income. Thanks for any help
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[Edited 2/23/2021 4:40 PT]
Enter your Claim of Right credit as Withholding not already entered on a W-2 or 1099 in Deductions & Credits. The amount will transfer to your Minnesota return.
You will not be able to e-file your Michigan return with the credit. Once you print out Form M1, write “M.S. 290.07, subd. 4” on the form.
Related Resource:
Repaying Taxed Income Deduction
OK, thank you. This is actually for Michigan, but I plan to follow the same directions and print it out and write Claim of Right/Repayment. Thank you for the information
Hello,
Did this work for you ? I have the same situation and trying to figure out the specifics for Michigan
Thanks in advance,
j
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