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If you get a signing bonus that you pay taxes on, then have to return part of it the following year, do you get to deduct it from taxes?
by pcthrowaway 5y ago
If you get a signing bonus that you pay taxes on, then have to return part of it the following year, do you get to deduct it from taxes?
- delecti 5y agoI stayed over 5 years, so I never had to repay any bonus. I can't be sure what the tax implications would be of it, but based on what I know about taxes (more than most, less than an expert) I suspect it would count against your taxable income in the year when you had to pay it back.
- junar 5y agoYes, as long as the amount you repaid exceeds $3,000. https://www.irs.gov/publications/p525#en_US_2020_publink1000229603 https://www.irs.gov/publications/p525#en_US_2020_publink1000...