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claim of right under $3,000 repayment of income

JOHNNYCPA
Level 3

I  have a client who repaid $1,000 in 2021 for any overpayment of wages that occurred in 2020.  He is in a 22% tax bracket and his taxable income was the same in year 2020 and 2021  (same 22%).

 

I assume that I can not get him a tax credit of $220 for his repayment since its under $3,000 income repayment.

 

Can anyone help me?

John

 

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1 Comment 1
Just-Lisa-Now-
Level 15
Level 15
I believe youre correct. Pub 525 Page 36

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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