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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Repayment of taxable sick pay credit or deduction?
Repayment of taxable sick pay credit or deduction?
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ritastone001
Level 5
03-19-2021
10:05 AM
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Client repaid $3053 of sick pay. $1763 was for tax year 2019. On 2019 return AGI was wiped out by standard deductions. No taxes paid. The amount for 2020 has been adjusted on the W-2 received. W-2 is marked sick pay with out code J. So nothing to recover on 2019. And on 2020, as an itemized deduction, would not affect return. I have read Pub 525, but I would like a second opinion. What am I missing ?
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