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    Msteve1967's Avatar
    Msteve1967 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 10, 2007, 02:06 PM
    Another sign-on bonus query
    I have been reading with interest all the sign-on bonus questions, but have not come across one that is like my situation:

    I started a position last February ('06) and was issued a sign on bonus of $10,000 (net ~ $6200). I left the position in September and was asked to return only the $6200. The company, however, left the $10,000 as part of my reported income on my W2.

    Am I able to deduct the $6200 or claim a tax credit for the 2006 tax year? If so, under which category? Miscellaneous?

    Many thanks in advance from someone completely confused.

    Mike
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 10, 2007, 11:50 PM
    Mike:

    If you returned the money, it SHOULD be reflected on your W-2.

    Go back to your old employer and have them adjust it, issuing you a W-2C.
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