Qualified moving exp pd by relative then TP pd by relative
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Well, it was the TP who actually moved and is entitled to the deduction. The relative would not meet the moving expense rules. So yes, even though the receipts are in the relative's name. I assume he has some record where he actually paid the relative at a later date. -
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Even if he didn't pay it back, it would be considered a gift to the TP. And the TP can deduct, either way.Leave a comment:
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What makes you think this wasn't a loan? This isn't the sort of thing that requires strict separation on the books.Not sure I ever came across this before. TP has qualifying moving expenses in 2013 for which TP's relative paid the moving expenses due to TP not having any money. TP then paid back relative in tax year 2013 and according to TP, relative issued receipt to TP for payment.
Now that I think of it, why didn't the relative just loan the money to the TP unless moving co. was paid with relatives credit card.Leave a comment:
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Qualified moving exp pd by relative then TP pd by relative
Not sure I ever came across this before. TP has qualifying moving expenses in 2013 for which TP's relative paid the moving expenses due to TP not having any money. TP then paid back relative in tax year 2013 and according to TP, relative issued receipt to TP for payment.
Now that I think of it, why didn't the relative just loan the money to the TP unless moving co. was paid with relatives credit card.Last edited by AZ-Tax; 03-27-2014, 06:50 AM.Tags: None
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