I received relocation assistance in 2021 for my new job. The relocation team said, they will pay all the relocation charges and also pay the taxes of the relocation charges for me. Based on the documents (attached picture), all these relocation cost will be added to my W2 (not sure if I understand correctly). So, do they mean that they have paid the cost directly and withhold taxes (for these cost) directly and these numbers were added to my W2? Do I need to do anything special during my tax return? For example, do I need to claim these cost as work related expenses and deduct them from my income (I feel I shouldn't do this as the company already paid the taxes for me)?
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The moving expenses were considered part of your pay and were included in your W-2 along with your tax withheld. You just report the information on your W-2. Nothing else has to be done.
The moving expenses were considered part of your pay and were included in your W-2 along with your tax withheld. You just report the information on your W-2. Nothing else has to be done.
Thank you!
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