According to the IRS in this article, there would be a tax liability for the relocation expense reimbursements unless you meet one of the exceptions outlined below. The amount in box 2 on your W2 is the total withheld for income taxes on the income reported in box 1, so verify your entries in TurboTax match those amounts.
"For 2018 through 2025, employers must include moving expense reimbursements in employees’ wages. The new tax law suspends the exclusion for qualified moving expense reimbursements.
Exception 1: Members of the U.S. Armed Forces can still exclude qualified moving expense reimbursements from their income if:
- They are on active duty
- They move pursuant to a military order and incident to a permanent change of station
- The move expenses would qualify as a deduction if the employee didn’t get a reimbursement
Exception 2: Employers may exclude from wages any 2018 reimbursements to or payments on behalf of employees for moving expenses incurred for a move that took place prior to January 1, 2018, and which would have been deductible had they been paid prior to that date."
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