Author Topic: Reimbursed Moving Expenses  (Read 3748 times)

Xlar

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Reimbursed Moving Expenses
« on: February 19, 2016, 01:52:07 PM »
In 2015 I moved across the country for work. I am trying to figure out if I can claim my moving expenses if they were reimbursed by my new company.

When I got reimbursed they amount went on my pay check and was taxed. I believe that this amount also shows up as income on my W2 form.

The expenses that I was reimbursed for were:
The miles driven
A per diem for hotel stays and meal while driving across the country
A per diem for hotel stays and meal while "settling" in

The per diem amounts were greater than what I put so if I can claim the expenses then I know that I'd have to use the actual receipts that I have but I'm not sure if I can claim them since I was reimbursed. The company paid directly to ship my stuff so I'm pretty confident that I cannot claim that as an expense.

Thanks!


therethere

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Re: Reimbursed Moving Expenses
« Reply #1 on: February 19, 2016, 02:13:55 PM »
It depends.... Both times my employer reimbursed everything it showed up on my W2 in that Miscellaneous box with the letter codes. Is that represented on your w2? Are you absolutely positive it was taxed because that is not usually the case for per diem type stuff. Usually its only taxed if they offer it as a set amount (nice round number) as a signing or relocation bonus.

Xlar

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Re: Reimbursed Moving Expenses
« Reply #2 on: February 19, 2016, 04:41:43 PM »
It depends.... Both times my employer reimbursed everything it showed up on my W2 in that Miscellaneous box with the letter codes. Is that represented on your w2? Are you absolutely positive it was taxed because that is not usually the case for per diem type stuff. Usually its only taxed if they offer it as a set amount (nice round number) as a signing or relocation bonus.

Great question. On my W2 I have $1370 that's listed as P - Excludable Reimbursed Moving Expenses. Looking back over my records this is how much I was reimbursed for the millage driven. On my paystub it is labeled "Reportable Travel." All my other moving expenses are labeled "Taxable Travel." Now they also included another line item which is "Tax Assistance Allowance" on most paystubs where I also got the taxable travel, not sure if that changes anything.

I will double check when I can but I believe that all the "Taxable Travel" adds up to all the Per Diems that I received.

Sibley

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Re: Reimbursed Moving Expenses
« Reply #3 on: February 20, 2016, 11:54:21 AM »
I've done this a couple times. Fill out the moving expenses form. There's a line to deduct whatever your employer paid for (W-2, code P), you can deduct anything remaining. It's form 3903 (USA)

Xlar

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Re: Reimbursed Moving Expenses
« Reply #4 on: February 20, 2016, 12:10:45 PM »
I've done this a couple times. Fill out the moving expenses form. There's a line to deduct whatever your employer paid for (W-2, code P), you can deduct anything remaining. It's form 3903 (USA)

Fantastic, thank you! Now when it says the lodging from my old home to my new home this is just the lodging in transit and not the lodging expenses I had until I found somewhere to rent? (FYI: I stayed at a rate lower than what I was getting reimbursed and if hadn't of done it I would've lost out on the additional funds.)

Thanks!

Sibley

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Re: Reimbursed Moving Expenses
« Reply #5 on: February 20, 2016, 12:37:51 PM »
I've done this a couple times. Fill out the moving expenses form. There's a line to deduct whatever your employer paid for (W-2, code P), you can deduct anything remaining. It's form 3903 (USA)

Fantastic, thank you! Now when it says the lodging from my old home to my new home this is just the lodging in transit and not the lodging expenses I had until I found somewhere to rent? (FYI: I stayed at a rate lower than what I was getting reimbursed and if hadn't of done it I would've lost out on the additional funds.)

Thanks!

Read the instructions for the form. I think it's the transit costs, not temporary housing, but I never did that so not 100%.

Also, for the employer reimbursement - it has to be specified as such on the W-2. If they didn't do the code right, then it's just taxable income :)

Xlar

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Re: Reimbursed Moving Expenses
« Reply #6 on: February 20, 2016, 02:16:38 PM »
I've done this a couple times. Fill out the moving expenses form. There's a line to deduct whatever your employer paid for (W-2, code P), you can deduct anything remaining. It's form 3903 (USA)

Fantastic, thank you! Now when it says the lodging from my old home to my new home this is just the lodging in transit and not the lodging expenses I had until I found somewhere to rent? (FYI: I stayed at a rate lower than what I was getting reimbursed and if hadn't of done it I would've lost out on the additional funds.)

Thanks!

Read the instructions for the form. I think it's the transit costs, not temporary housing, but I never did that so not 100%.

Also, for the employer reimbursement - it has to be specified as such on the W-2. If they didn't do the code right, then it's just taxable income :)

I'm pretty sure it's just the transit costs, so I'll just claim them.

They did just put it in as taxable income! Sounds like I lucked out :)

Thank you very much for your help!

clarkfan1979

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Re: Reimbursed Moving Expenses
« Reply #7 on: February 27, 2016, 01:45:06 AM »
If your moving reimbursement is on your W-2 and you are using tax software, when it asks you if your employer gave you any money for moving say "no" unless you want it to count twice.

Xlar

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Re: Reimbursed Moving Expenses
« Reply #8 on: February 29, 2016, 02:18:12 PM »
If your moving reimbursement is on your W-2 and you are using tax software, when it asks you if your employer gave you any money for moving say "no" unless you want it to count twice.

Ah ha, thank you for the tip!

 

Wow, a phone plan for fifteen bucks!