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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
The amount in question was for taking care of our home in our home state and the loss that company took when they sold the home after paying us MORE for it than they were able to sell it for.
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
member of the U.S. Armed Forces (not included in box 1, 3, or 5)
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
For tax year 2017 -Code P—Excludable moving expense
reimbursements paid directly to employee. Show the
total moving expense reimbursements that you paid
directly to your employee for qualified (deductible) moving
expenses
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
For 2017, that is not taxable income and should not be included as part of your box 1 wages.
It is not year clear to me if that changed for 2018, but this seems to be a W-2 you already have, so no problem.
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
P—Excludable moving expense reimbursements paid directly to a
member of the U.S. Armed Forces (not included in box 1, 3, or 5)
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
Suspension of exclusion for qualified moving expense reimbursements.
The Tax Cuts and Jobs Act
(Public Law 115-97) temporarily suspends the exclusion
for qualified moving expense reimbursements under
section 132(a)(6) and (g). However, the exclusion still
applies for a member of the Armed Forces of the United
States on active duty who moves under a military order to
a permanent change of station. This change is effective
for
taxable years beginning after
December 31, 2017,
and
before January 1, 2026. See P.L. 115-97, section 11048
and Code P—Excludable moving expense
reimbursements paid directly to a member of the U.S.
Armed Forces for more information
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
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In box 12, code P we have $63,213. This is the amount paid by the employer for moving related expenses directly to vendors. Will we in turn be taxed on on this?
<a rel="nofollow" target="_blank" href="https://www.accountingtoday.com/news/irs-gives-taxpayers-a-break-on-deducting-employee-moving-expens...>
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