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- disability pay form employer insurnace
disability pay form employer insurnace
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momma1
Level 3
04-19-2023
11:54 AM
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Client received disability pay and then had to pay back a amount. Insurance co indicated to claim on tax return the repayment and referred him to publication 525. I can only see where he can claim this on Schedule A is this the only option ? The repayment did not show as a reduction on the W2.
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Terry53029
Level 14
04-26-2023
08:17 AM
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A Claim of Right Repayment is a deduction you can take in the current tax year if you’re required to pay back income in excess of $3,000 from a previous tax year that you thought you could keep. You reported and paid taxes on the money, not knowing you’d have to pay it back. See pub 525 page 37
