Author Topic: Deduct moving expenses  (Read 1623 times)

felizcortez

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Deduct moving expenses
« on: March 15, 2017, 09:33:52 AM »
I was moved for work in 2016 from the Midwest to the West Coast.  My job provided a relocation package that included paying for movers, reimbursements for some moving expenses and also a lump sum payment to cover incidentals.  A number of these reimbursements show up on my W2 as income.  I'm trying to figure out if it is possible to claim these moving expenses on my taxes and haven't been able to find a straight answer yet.  Anything I should be aware of?

Heroes821

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Re: Deduct moving expenses
« Reply #1 on: March 15, 2017, 09:42:06 AM »
The IRS 3903 form covers this.

https://www.irs.gov/pub/irs-pdf/f3903.pdf

My CPA had me hand fill out this myself, but I had zero reimbursement from my employer.

felizcortez

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Re: Deduct moving expenses
« Reply #2 on: March 15, 2017, 09:58:45 AM »
I read through this so a few questions I had were as follows.

1.  Employer hired and paid for movers.  I don't believe they showed up as Income.
2.  Employer paid for housing for a month. This showed up as income in W2
3.  I was paid for mileage, but I rented a rental car out of pocket for the move.
4.  I moved a boat, that wasn't included in the move, but I was given a relocation allowance for incidentals. 

Heroes821

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Re: Deduct moving expenses
« Reply #3 on: March 15, 2017, 11:36:46 AM »
Not a pro at this by any means but I would fill out the 3903 for any income that they are counting on your w2 that they paid for a move since they seem to be taxing you on that.  My housing is also being paid but that doesn't count as moving expenses.  We counted 2 car towed u-hauls, the movers, our gas and 2 hotel stays.

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Re: Deduct moving expenses
« Reply #4 on: March 21, 2017, 08:36:46 AM »
I think your housing allowance would be taxable compensation.  Everything else I believe would be offset by a deduction. 

Heroes821

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Re: Deduct moving expenses
« Reply #5 on: March 21, 2017, 09:20:52 AM »
I think your housing allowance would be taxable compensation.  Everything else I believe would be offset by a deduction.

Not the OP but I think you were replying to me.  According to what I read on the IRS website I do not need to claim them paying my rent as income.  The income does not appear on my 1099 from the client either.

 

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