In 2021, I sold my home and moved to a different state and Microsoft helped with my relocation.
For the agent's commission for selling my home, I paid from my after tax money. MS reimbursed this money but reported this amount as income on my W2.
Because of this I am owing a big chunk of money to the federal.
How can I claim that this is not a regular income and claim it on my deductions. I don't have any documents. Should I contact MS to update my W2? At big companies like MS, shouldn't there be a standard process to fix this?
Blind tax: 220k
Yoe: 3
#tax #irs #relocation
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Real estate agent commissions aren’t deductible expenses against income. Though they may play into any calculation of taxable gain you have on your old home.
31, 2017, and before January 1, 2026.
What kind of job do you have in finance and accounting? Hahahahaha