Currently Being ModeratedNov 12, 2013 8:28 AM (in response to gardenstategal)
Great question. The following resource provides the information you are looking for:
Delete a video. Tap Edit in the upper right of your collection. To delete an individual episode of a series, swipe left on the episode in the Episodes list. Deleting a video (other than a rented movie) from iPhone doesn’t delete it from the iTunes library on your computer, and you can sync the video back to iPhone later. If you don’t want to sync the video back to iPhone, set iTunes to not sync the video. See Sync with iTunes.