I receive a relocation summary saying I receive gross up tax assistance paid directly to authorities on my behalf. Yet, the amount $x is given to the vendor NOT to me. However, the amount is added to my salary into Box 1 of my W2.
1. Does this amount mean anything to me?
(Assuming, I dont spend a single cent on moving, all expenses are fully paid or reimbursed)
2. also, claiming relocation has to satisfy time test : 37 weeks. But, I started working in US since 2016 Nov. Can I claim those in 2016 tax? Or, shall I wait till 2017 then make a claim on 2017 tax.
thanks
tax relocation assistance on Box 1, W2
Moderator: Mark T Serbinski CA CPA