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kconnor1tax
New Member

I was given a relocation sum of money. My company paid taxes on that portion of money. How can I take that into effect when filing my taxes?

 
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DianeW
Expert Alumni

I was given a relocation sum of money. My company paid taxes on that portion of money. How can I take that into effect when filing my taxes?

The amount that was paid as a withholding tax, even if paid by your employer, should be included on the W2 form you receive.  The income will be taxed and the federal withholding in total will be in box 2.

Enter the W2 exactly as it appears and TurboTax will do the overall calculations when you finish.

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1 Reply
DianeW
Expert Alumni

I was given a relocation sum of money. My company paid taxes on that portion of money. How can I take that into effect when filing my taxes?

The amount that was paid as a withholding tax, even if paid by your employer, should be included on the W2 form you receive.  The income will be taxed and the federal withholding in total will be in box 2.

Enter the W2 exactly as it appears and TurboTax will do the overall calculations when you finish.

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