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How should I treat a Home Sale incentive that is showing up in my W2 as income?
My company's relocation policy has a Home Sale Incentive clause. Essentially if I sell my home in <X days, I get a $ incentive payment. In 2018, that is what happened and I was paid $2,500 as "Home Sale Incentive". This amount was paid via check and is also showing up in my W-2 in Box 1. So by default it is showing up as "taxable income". Is it taxable or do I need to adjust something in TurboTax or is there a deduction somewhere to offset this?
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‎June 4, 2019
12:47 PM