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Tax Year Prior to 2020: I got a relocation lump sum amount of $15000 (in W2 Box 1). Company paid me $8962.50 after deduct $6037.50 (not in W2 box 2) for the taxes were withheld.
I got a lump sum amount of $15000-taxable as relocation expenses. My company reimbursed me $8962.50 after deduct tax withheld $6037.50. However, on my W2 the actual amount paid ($15000.00) is added in box 1 (wages) but no mention of relocation expenses anywhere else on W2. They also didn’t add the tax withheld ($6037.50) on box 2. What should I do to avoid being taxed twice on $15000 already reported in my W2 (box 1). Do I need a corrected W2 form to include the tax withheld $6037.50 in box 2 of my W2?
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May 31, 2019
4:50 PM