Question

I was overpaid in 2022. I repaid the wages in 2023. Where do I enter this? It is only $95, and I am not itemizing. (Fed and California)

Forum|Forum|2 years ago
March 18, 2024
1 reply
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This is unusual, and a credit would have to be for the taxes paid on $95. Reducing income would be based on this year's tax rate, not last year. This may not be worth it, is "The juice worth the squeeze?"

TurboTax Online

rjs

Employee

You don't enter it anywhere. Under the current tax law (for years 2018 through 2025) there is no credit or deduction for a repayment of $3,000 or less.