I.R.C 1341 -Repayment of singing bonus

Forum|Forum|6 years ago
June 1, 2019
2 replies
0 views

Hi, I received after tax signing bonus of $6,600 in 2015 and need to pay back before tax signing bonus of $10,000 in 2016. I looked on line with 2 approaches I can do and I am not sure how to do it for the Credit method.

1. Credit under I.R.C 1341 -Repayment of singing bonus. This one I am not sure where I should enter in the turbo tax.
Can you please help.

Thank you.

The 2 approaches I saw:
https://ttlc.intuit.com/questions/2613585-i-was-paid-a-signing-bonus-in-2014-and-repaid-it-in-2015-how-does-this-effect-my-2014-tax-year

TurboTax Deluxe Online

Best answer by IsabellaG

If you choose a credit , this can only be done in the Forms mode of the Desktop version of TurboTax. You can't do this in TurboTax Online.

See this answer:

https://ttlc.intuit.com/replies/5659812

IsabellaGAnswer

Employee

If you choose a credit , this can only be done in the Forms mode of the Desktop version of TurboTax. You can't do this in TurboTax Online.

See this answer:

https://ttlc.intuit.com/replies/5659812

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Mike9241

old thread

Opus 17

Employee

@Mike9241 ,

I would classify that post as link spam. Champs have the ability to move those posts into the lounge where they aren't public, and the mods can delete them. (If the moderator disagrees, they can move them back.)