Bonus repayment tax adjustment

[rni99]

Hello,

I've worked for two employers in 2021:

* joined company A in Feb 2021 and got a signon bonus

* moved from company A to company B in July 2021 and repaid the bonus to company A (> $3000)

* signed the FICA consent form and got w2c

But I've never received any check from company A.

Could anyone help suggest how I should amend my 2021 tax return with the w2c? Thank you.

[Mike9241]

did you repay the gross bonus or the bonus less the fica and medicare taxes?  

[rni99]

Thanks for the reminder, Mike. Added some details:

So the signon bonus amount is Y and I repaid

Y - federal - state - social security (SS) - medicare (M) = X

to the previous employer.

The w2c form corrects box 3-6

* Box 3 social security wages diff (w2 - w2c) is roughly X

* Box 4 social security withhold is less than SS (repayment receipt amount)

* Box 5 medicare wages diff (w2 - w2c) is roughly X

* Box 6 medicare withhold is less than M (repayment receipt amount)

No corrections for the federal or state tax withhold. I am a little confused on the w2 & w2c diff mis-matching the repayment receipt. Is it as expected? Thanks.