Author Topic: Moving Expenses - Deferable?  (Read 1429 times)

suds

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Moving Expenses - Deferable?
« on: February 02, 2017, 11:37:47 PM »
Long story short, moved very far last year, near the end of the year. In the process, I've more than doubled my AGI, but as I started my new employment in November, I still have a low enough AGI that I'll get refundable credits, and claiming the moving expenses for last year has essentially no effect on my return. However, I'll end up paying quite a bit this current tax year, so it would be awesome to claim those moving expenses against 2017's return.

I can find quite a bit of info on claiming this late, but nothing about claiming this in a year different from when the moving expenses occurred. Thanks in advance!

Drifterrider

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Re: Moving Expenses - Deferable?
« Reply #1 on: February 03, 2017, 04:33:59 AM »
Individuals use cash based accounting.  Claim in the year the expenditure occurred.

terran

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Re: Moving Expenses - Deferable?
« Reply #2 on: February 03, 2017, 05:39:46 AM »
Interesting question. Did your employer reimburse you for the moving expenses, and if so when? It looks like if you were not reimbursed then Driftrider is correct, but if you were reimbursed you can deduct either in the year in which you paid the expenses or the year in which you were reimbursed: https://www.irs.gov/publications/p521/ar02.html#en_US_2016_publink1000203544

BigRed

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Re: Moving Expenses - Deferable?
« Reply #3 on: February 03, 2017, 10:24:24 AM »
Interesting question. Did your employer reimburse you for the moving expenses, and if so when? It looks like if you were not reimbursed then Driftrider is correct, but if you were reimbursed you can deduct either in the year in which you paid the expenses or the year in which you were reimbursed: https://www.irs.gov/publications/p521/ar02.html#en_US_2016_publink1000203544

This is our situation.  We will be partially reimbursed by my partner's employer, though it isn't clear for how much, and whether all of the reimbursements are for tax-deductible expenses or not.  When do I deduct the deductible expenses that were not reimbursed (if there are any, I'm not sure, yet)?