Good day everyone,
I accepted a position with a company and the company has provided a fixed amount of funds for a relocation that is going to be paid as a lump sum amount. The relocation agent told me this amount will be taxed as supplemental income.
In lieu of this, I will very obviously not be receiving the full amount for relocation so are there any expenses that I will incur during moving that are tax deductible so I can try to recoup some of the money that will be withheld for taxes?
EDIT: Currently live in the United States (Pennsylvania). Moving to Colorado.