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.

TidalWave
New Member

Left Employer on March 31. They mistakenly ran an extra payroll for April. They request I pay net amt back? Net amt >10K. Taxes,401k deducted. How to handle at tax time?

 
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.

2 Replies

Left Employer on March 31. They mistakenly ran an extra payroll for April. They request I pay net amt back? Net amt >10K. Taxes,401k deducted. How to handle at tax time?

ask your ex-employer about how the 401k will be handled. As for other items since the paycheck and repayment were in the same year the IRS dictates that your W-2 should only reflect the correct (net) amounts.  example if including the April paycheck your federal withholding was $6500 and that April paycheck which you repaid showed $1000 in federal withholding your 2024 w-2 should show only $5500 in federal withholding.  So there really is nothing extra you have to do when doing your 2024 return. 

Left Employer on March 31. They mistakenly ran an extra payroll for April. They request I pay net amt back? Net amt >10K. Taxes,401k deducted. How to handle at tax time?

Since everything happened in 2024, your W-2 should reflect reality (after adjustments), and you should not need to do anything special on your tax return.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies