The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Moving Expenses||Date: 1/4/2002 6:07 PM|
|Author: 2195501y||Number: 56774 of 125697|
When I was offered my job I was offered reimbursement for my moving expenses, or a lump sum payment.
It is income. You report it as income on your tax form.
Then, collect your receipts for moving expenses (truck rental and such).
Sum them up, and fill the amount in the 'moving expenses' line on your tax form. This amount will be deducted from your income.
You may break even. If you don't break even, and have some monies left over...well, you managed to make some money on your moving. If you did not keep the receipts, try to recover copies from truck rental place and such.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|