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My company relocated me in 2016 and provided a lump sum, is that information in my W2 or do I need to enter that somewhere?

 
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3 Replies

My company relocated me in 2016 and provided a lump sum, is that information in my W2 or do I need to enter that somewhere?

You'll have to wait and see.  If they provided a lump sum and did not require that you provide receipts or pay back any unused amounts, then it is supposed to be included in your W-2 taxable wages (if they do it right).  

And in that case, since the moving assistance was taxable income, you are allowed to deduct your qualified moving expenses on the deductions and credits page, subject to the usual rules for that deduction.

If they paid in advance but required proof (or else you would have to pay it back), then it should not be included in your W-2 and you can't deduct expenses that were paid with tax-free assistance.

My company relocated me in 2016 and provided a lump sum, is that information in my W2 or do I need to enter that somewhere?

Thanks. My company paid me a lump sump when I moved to USA and I see the amount has been included in my W2. I had some legitimate expense which is less than what I received, however can I claim deduction for such expenses. SB

My company relocated me in 2016 and provided a lump sum, is that information in my W2 or do I need to enter that somewhere?

If the payment is included in your taxable income, you can deduct your moving expenses--subject to the usual rules and limitations for deducting moving expenses.  I believe the moving expense interview is on the Deductions and Credits page next to work-related expenses.   You may need to click something like "show me more options" or "let me choose what to work on" if you don't see it at first.

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