Amazon gave me 10k relocation fee. IRS took 30% of it. May I use the cost of my relocation as tax deduction to get the 30% back? Like shipping car, new short term lease, breaking old lease fee, flight. Thanks. I found the explain, but still not sure, especially the breaking lease fee. https://www.irs.gov/taxtopics/tc511
Afaik you can only deduct expenses incurred during the actual move such as shipping your car, not things like lease break fees or temp housing (although you can do hotel stays during the move itself) but what do I know? I’m not a CPA
Not sure how the recent changes in tax laws affect moving but in the past, I deducted the value of items I sold in order to move, the cost of moving (if over 50 Miles), hotel, gas, additional costs for meals while in temp housing, etc. the best way to capitalize on this is to get a good CPA.
Thanks. Looks I really need a CPA this year.
You should have asked for a reimbursement
Find an accountant
Amazon relocation is post tax, is it not?
Not sure what you mean by post tax; the 10k is a pretax amount of which they withhold taxes on
When I got my relocation, they gave me 13-14k or something like that, and after tax it was 10k exactly
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You can’t deduct these things as a business travel expense, but moving expenses for a job are deductible under separate rules https://www.irs.gov/newsroom/deducting-moving-expenses