Welcome Guest. Register Now!  


Itemized Deductions Schedule-A


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-04-2014, 10:39 PM
Junior Member
 
Join Date: Feb 2014
Posts: 1
Moving expenses

We moved for my husband's employment in 2013. We pass the time and distance test for claiming moving expenses. Here is our scenario- his company paid all of our moving expenses for us, but we were taxed on them and the total amount for the expenses is included in box 1 (wages) on his W-2. Also, on his w-2 in box 14(other information), his employer put the amount for moving expenses. Our question is, since it is included in wages & taxed, can we claim those moving expenses? Also, we live in Louisiana so we must file State taxes, if we can claim them as a deduction, do we just claim them on Federal or do we claim them on both Federal & State? Thank you.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-05-2014, 01:13 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Quote:
Originally Posted by Merr1970 View Post


#1;We moved for my husband's employment in 2013. We pass the time and distance test for claiming moving expenses. Here is our scenario- his company paid all of our moving expenses for us, but we were taxed on them and the total amount for the expenses is included in box 1 (wages) on his W-2. Also, on his w-2 in box 14(other information), his employer put the amount for moving expenses. Our question is, since it is included in wages & taxed, can we claim those moving expenses?




#2;Also, we live in Louisiana so we must file State taxes, if we can claim them as a deduction, do we just claim them on Federal or do we claim them on both Federal & State? Thank you.
#1;correct;as his reimbursement was reported as wages in box 1 on his w2, then he can file Form 3903 with his tax return to report moving expenses and reimbursements to the IRS. additional tax information can be reported in Box 14. If any amounts are reported, they will have a brief description of what the amounts are for. Since his ER provides reimbursement that does not meet the guidelines of an accountable plan, the reimbursement is taxable to your husband and must be recorded as wages, salary and other pay and is therefore recorded in box 1 of Form W-2.




#2;I guess it depends; it varies stae to state. so you need to contact the dept of rev of LA. Once you moved for a new job/your employment, your moving expenses may be a tax deduction on your state income tax return too. Each individual state determines whether you are allowed to deduct moving expenses and under what circumstances, as well as which expenses qualify as a deduction



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Moving Expenses to look for work stpaul12 Itemized Deductions 0 01-07-2013 07:11 PM
Moving Expenses from 2010 nep2010 Miscellaneous 1 04-16-2012 01:44 AM
Moving Expenses nep2010 Itemized Deductions 1 04-02-2012 09:59 PM
What can a Taxpayer deduct for moving expenses? Tanya Miscellaneous 1 02-19-2007 01:02 PM
Moving Soon? Let the IRS Know Samatg General 0 01-23-2007 07:57 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.