{ "media_type": "text", "post_content": "For tax purposes, how do we deal with repayment of signing bonus below $3K in a different year from when it was included in your W-2? I saw you can do claim of right on your return if it’s above $3K but what happen for amounts below that? Do I simply lose out on the federal income tax paid on that? Thanks everyone!!", "post_id": "61eafd829ed631002a771ea5", "reply_count": 7, "vote_count": 1, "bowl_id": "599555b669a73a0010aab3ac", "bowl_name": "Tax Bowl", "feed_type": "bowl" }

For tax purposes, how do we deal with repayment of signing bonus below $3K in a different year from when it was included in your W-2? I saw you can do claim of right on your return if it’s above $3K but what happen for amounts below that? Do I simply lose out on the federal income tax paid on that? Thanks everyone!!

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Depending on how much it is, I would just not repay it until they really start to hound you for it. And even then I would try to settle for a lower amount or work out a lengthy, interest free repayment plan. I had owed a B4 a portion of my signing bonus when I left ($2,500) and they gave me instructions how to repay it during the exit interview process. But I never heard from them again about it. This was about 3+ years ago now and haven’t heard anything

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Highly doubt it, I’ve never heard of that happening

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I thought itemized deduction but may be wrong. I do think smaller amounts like this is generally out of luck

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https://www.irs.gov/pub/irs-wd/05-0146.pdf

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You are SOL ( from IRS Pub 525)

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Thank you, Director! I thought so.

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