You'll need to sign in or create an account to connect with an expert.
You will report the extra income on Form 1040 Schedule 1 Part 1 Line 8.
The compensation was for moving expenses, miles driven, internet service costs and personal technology usage, which I dont believe are currently tax exempt, so I believe I need to report the compensation as additional income, just need to know how best to report it.
It depends.
[Edited 2/14/2020 | 12:38 PM PST]
Thanks Kathryn. No there is no accountable plan, this was simply a check cut to me. However, I was informed that moving expenses, etc are not tax exempt and that I would have to add this as part of my income, which I am ok with. But need clarification.
Yes, you are correct moving expenses are no longer deductible on your tax return. Any reimbursement you receive from your employer is considered as taxable income. The moving expense deduction was suspended for tax years 2018 through 2025 by the Tax Cut and Jobs Act of 2017.
Thank you Leonard. That's what I thought and was told. Since this extra income was not reported on my W2 nor through a 1099, what would be the best place to indicate this on my taxes? Thank you in advance!
You will report the extra income on Form 1040 Schedule 1 Part 1 Line 8.
Great, thanks. One more question: Where on turbotax would this be under Income?
Yes, that is correct, that type of income would go to line 8 of Schedule 1.
Here is how to enter it in Turbotax:
Thank you Julie.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Reemo
Level 1
dresiap
New Member
pbrinkman
New Member
chelsea23320
New Member
marshalkingtax94
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.