Announcement

Collapse
No announcement yet.

Employee Moving Exp Info or Relocation tax report

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Employee Moving Exp Info or Relocation tax report

    I am looking at my clients Relocation tax report "exp reimbursements":

    Excludable (matches amt in box 12c code P of W-2)
    Non deductible (what exactly is this?)
    Business Excludable (what exactly is this?)
    Taxable not grossed-up (the amt is $0 but what exactly is this?)

    #2
    "non deductible" is stuff like temporary housing, meals, and/or buying out a mortgage at the old work location.
    "business excludable" is expenses the corp was able to take but *not* report in box 1 of the W-2
    "taxable gross-up" is the amount included in box 1 of the W-2 and box 2 for the gross up taxes.
    hope this helps

    Comment

    Working...
    X