If I take a job that has $20k signing bonus that has a 1-year payback penalty if I don't work there a year, then I end up leaving early. I have to pay it back. What happens with the taxes? Will I get back the ~$6,800 in taxes on my tax return, since that $20k income will be undone?
You'll need to sign in or create an account to connect with an expert.
See this previous TT answer: https://ttlc.intuit.com/questions/3359139-my-story-is-last-year-i-joined-a-comp-and-they-gave-me-a-s...
What you're asking about is a "Claim of Right" calculation on repayment of money you had a claim to. TurboTax on-line does not support the "claim of right" computation. TurboTax desktop, in the forms mode, permits the credit to be entered in the "smart worksheet" above line 72, but you still would need to compute it manually.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ljkallumkal
New Member
sohn87
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.