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tejohn02
Level 2
February 1, 2023
Question

paying back bonus received

  • February 1, 2023
  • 1 reply
  • 19 views

Client received 20,000 sign on bonus in 2021.  In 2022, left company and had to pay back 14, 575.  Can that be taken as a deduction on 2022 tax return?

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1 reply

rbynaker
rbynaker
Level 13
February 1, 2023

Take a look at Pub 525 page 37 (2022) under Repayments:

https://www.irs.gov/pub/irs-pdf/p525.pdf

There are some nuances to it.

    G
    garman22Intuit Community Champion
    Intuit Community Champion
    February 1, 2023

    @rbynaker I agree!

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