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jmbillmeyer
Level 2
02-15-2021
12:06 PM
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I have a new client that received Third party sick pay in 2019 but had to repay a part of it due to an overpayment. I'm looking for guidance on how to report the amount they had to pay back. Do I amend the 2019 return or is there somewhere we can account for it on the 2020 return? I'm thinking I can do the same as if someone pays back unemployment after the fact, but would like more input. Thanks in advance
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rbynaker
Level 13
02-15-2021
03:11 PM
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See the section on Repayments:
https://www.irs.gov/pub/irs-pdf/p525.pdf
If you have a follow-up "how do I enter" question, come back and tell us what software you're using.
Rick
