Hi, @kiwanski !
If your relocation benefit is included in Box 1 of your W2, you do not need to report it elsewhere as income.
Unfortunately, moving expenses are no longer deductible on Schedule A (except for military changes in station), so at least from a federal standpoint, you will not be able to counter that income with any deductions.
You should check, though, to see if moving expenses are deductible in your state!
All my best,
Adam, EA
TurboTax Live
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
