Relocation lump sum where to input this information

[ragavi98]

Hi I received a form 45474 for relocation tax information. It has details of the lump sum I received in September 2022 for my move from place X to place Y in September 2021. The move in September 2021 was a work related move. On my 2021 tax return I inputted details of moving expenses.

1.) Do I put any moving related expenses on my 2022 tax return? I'm assuming I don't put any moving expenses on my 2022 tax return as I didn't have any work related moves in 2022.


2.) The lump sum I received is taxable. Where do I input the info from this form 45754 on turbo tax? It has information like, total moving expenses, total tax assistance, and other taxable expenses with full tax assistance.

[CatinaT1]

I'm not sure what form you received. Form 45754 isn't a valid form number. Generally, if your company reimburses you for moving expenses, it would not be taxable unless they reimbursed more than you spent on moving costs.

The deduction for Moving expenses was eliminated, except for certain Armed Forces members. For tax years beginning after 2017, you can no longer deduct moving expenses unless you are a member of the Armed Forces on active duty and, due to a military order, you move because of a permanent change of station. It doesn't appear from what you said that this applies.

[ragavi98]

This relocation lump sum was included as a part of my W-2 Box 1 as well.  Sorry I meant to say it was form 45474-<company-name>.

[ragavi98]

I think they did reimburse me more than the moving costs I calculated for my move in 2021. 

[ragavi98]

Is form 45474 a valid form?

[PattiF]

Form 45474 is not found in various searches. Maybe the numbers are a code for your company to allocate the payment.

Here is an IRS interview Can I Deduct My Moving Expenses?

You will need your expenses from the move and the amount reimbursed shown on the W-2. Start with the Begin button at the bottom of the page to enter your information to determine the taxable

amount.

This interview will help you determine if you can deduct your moving expenses.

Information You'll Need

• Types and amounts of moving expenses.
• Amount of moving expense reimbursements as shown on Form W-2.

The tool is designed for taxpayers who were U.S. citizens or resident aliens for the entire tax year for which they're inquiring. If married, the spouse must also have been a U.S. citizen or resident alien for the entire tax year. For information about nonresidents or dual-status aliens, please see International Taxpayers.

Disclaimer

Conclusions are based on information provided by you in response to the questions you answered. Answers do not constitute written advice in response to a specific written request of the taxpayer within the meaning of section 6404(f) of the Internal Revenue Code.

Estimated Completion Time: 9 minutes

Please Note: After 15 minutes of inactivity, you'll be forced to start over.

Caution: Using the "Back" button within the ITA tool could cause an application error.

Begin

@ragavi98 
 

[ragavi98]

According to the survey I cannot deduct any moving expenses.

[ragavi98]

The amount reimbursed is on my W-2 as a part of box 1. I'm assuming I don't need to input this reimbursement amount anywhere else on my taxes then?

[DoninGA · Accepted solution]

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@ragavi98 wrote:

The amount reimbursed is on my W-2 as a part of box 1. I'm assuming I don't need to input this reimbursement amount anywhere else on my taxes then?

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That is correct.  Since it is already included on your W-2 you do not enter it anywhere else on the tax return.