company paid closing costs

Bettie Cheek

Junior Member

Join Date: Feb 2006

Posts: 28
#1

company paid closing costs

09-13-2007, 11:41 AM

t/p employer is paying $23,000 to pay closing costs on his home that he sold and is moving to another state to work for them. They are issuing a check and told hime he would receive a 1099 at the year end. Is there tax law that this should be on a w-2? Thanks

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BOB W

Senior Member

Join Date: Jun 2005

Posts: 4060
#2

09-13-2007, 12:17 PM

Originally posted by Bettie Cheek View Post

t/p employer is paying $23,000 to pay closing costs on his home that he sold and is moving to another state to work for them. They are issuing a check and told hime he would receive a 1099 at the year end. Is there tax law that this should be on a w-2? Thanks

Maybe this will help................. You will need a breakdown of each catagory.

http://www.naz.edu/dept/controller/docs/Moving%20expense%20reimbursement.pdf

Sorry, I gave you more than what you asked for but...........................

Last edited by BOB W; 09-14-2007, 07:20 AM.

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