turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Claim of right repayment over $3,000 - State Taxes

there is a recommendation on how to get a credit for a Claim of right repayment over $3,000 at the Federal tax level but what about on State taxes (for me Wisconsin)?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Claim of right repayment over $3,000 - State Taxes

Line 31 Repayment Credit
If you had to repay during 2023, an amount that you had included in income in an earlier year because at that time you thought you had an unrestricted right to it, you may be able to claim a credit based on the amount repaid. To qualify for the credit, the amount repaid must be over $3,000 and the amount repaid cannot have been subtracted in computing Wisconsin adjusted gross income.
Use the following steps to compute your credit:
(1) Refigure your tax from the earlier year without including in income the amount you repaid in 2023.
(2) Subtract the tax in (1) from the tax shown on your return for the earlier year. The difference is your credit.
Fill in the amount of your credit on line 31 of Form 1. Include a statement showing how you computed your credit

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies