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paying back bonus received
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tejohn02
Level 1
02-01-2023
10:24 AM
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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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rbynaker
Level 13
02-01-2023
10:39 AM
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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.
