When I was offered my job I was offered reimbursement for my moving expenses, or a lump sum payment. Since I had just graduated and didn't have much to move, and was very cash poor - I took the money. Yes, the lump sum is income to you and will be reported on your W-2. You'll deduct your allowable moving expenses as an "adjustment to income," which means that you can deduct them even if you don't itemize deductions.See IRS Publication 521 and Form 3903.Phil MartiVITA Volunteer
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