- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
It depends.
When it comes to claiming deductible moving expense, you will not be able to claim a deduction for any reimbursed moving expenses unless these expenses are also included in your taxable income (Box 1 of your W-2).
For example, if your employer reports the moving expense reimbursement in Box 12, code "P" (related to exclusionary moving expense reimbursements) and also includes this reimbursement in your Box 1 income then you can claim deductible moving expenses related to this taxable reimbursement amount. You would also be able to claim any additional moving expenses for which you did not receive a reimbursement.
However, if your company reimbursed you for your moving expenses and did not include this amount in your taxable income on your W-2 then no moving expense deduction is allowed.. (In this case, since you are not recognizing the reimbursement as income, you are not allowed to take a deduction for these reimbursed expenses.)
Please refer to these links related to moving expenses: IRS - Moving Expenses and Moving Expense Deduction
If you have eligible moving expense, once you have signed into your TurboTax Account (for TurboTax Online sign-in, click Here), select "Take Me To My Return" and type "moving expenses" in the search bar then select "jump to moving expenses". TurboTax will guide you in entering this information
You will claim these moving expenses on Form 3903 and they will not affect your ability to claim a standard deduction.