Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Relocation Taxable or not (https://www.askmehelpdesk.com/showthread.php?t=78485)

  • Apr 2, 2007, 12:42 PM
    Creativemind95
    Relocation Taxable or not
    Hi,

    I received a lump sum of 7500 USD from my employer for my relocation to US in Dec 2005. Subsequently I moved to US on 1st Jan 2006 and deposited the check after opening a bank account.

    This lump sum payment does not appear in my W2 for the year 2006 as it was given in 2005. How should I treat this relocation benefit?

    Thanks,
    Naz
  • Apr 5, 2007, 01:20 PM
    AtlantaTaxExpert
    It is likely taxable income for 2005. If you did not file a tax return for 2005, I believe you need to.

    • All times are GMT -7. The time now is 05:05 AM.