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    Budagolfer's Avatar
    Budagolfer Posts: 1, Reputation: 1
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    #1

    Mar 5, 2008, 08:50 AM
    Relocation Bonus Repayment after taxes
    I received 10K for relocation when I started with a company. I agreed to work for 24 months in exchange for this. However, after taxes were taken out, I only received 6500. Now after 8 months I am leaving the company. They would like 6600 hundred in return. The agreement was for a prorated amount to be paid back for each month that I had not completed. Am I being double taxed on this?
    Shouldn't I pay 4300?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 18, 2008, 11:42 AM
    You will either have to amend the tax return to reflect the actual amount of the bonus earned, or claimed as a miscellaneous deduction that amount of the bonus returned on your current year tax return.
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