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

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

kswank2
New Member

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

I received a sign-on bonus in December 2016; I left the Company in October 2017. I had to payback a prorated amount of the sign-on bonus, gross. Since I paid taxes on the amount I paid back, how do I deduct that from my taxable income on my 2017 tax return?

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.

6 Replies

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

How much did you have to pay back?

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

Was the amount already subtracted from your 2017 W-2 box 1 wages?  How much did you repay?
kswank2
New Member

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

I'm checking to see if it was reflected in my W-2, but I have a feeling it wasn't. The amount paid back was $1,000.
kswank2
New Member

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

That's insane that I paid $300 (let's say) to the gov't on money I never got to keep, and I don't get any of that $300 back.

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

Call your congressperson.  Unfortunately that's the law.

I was paid a bonus in 2016 and in 2017 I had to payback a prorate of my unearned bonus, gross. I paid taxes on that income, where do I deduct that from my taxable wages?

If not reflected in your W-2, the amount is so small that you probably can't get anything for it.  Repayments of less than $3000 are a miscellaneous itemized deduction subject to the 2% rule.  You would only get a deduction if your income is less than $50,000, and you itemize your tax deductions.  Go to the bottom of the Deductions and Credits tab and run the interview for "other uncommon deductions."  Turbotax will include it if it can.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question