Beginning in 2018, the moving expense deduction is temporarily suspended, except if you are a member of the Armed Forces on active duty and, due to a military order, you move because of a permanent change of station.
An amount with code P will transfer to Line 4 of Form 3903 for moving expenses. Form 3903 can be completed for the amount of moving expenses paid by the taxpayer. If a moving expense deduction is computed, it will be reported on IRS Schedule 1 (Form 1040) Line 26.
To enter the W-2 box 12 amount:
- From within your TaxAct® return (Online or Desktop) click Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Wages and Salaries in the Federal Quick Q&A Topics menu to expand the category, then click Wage income reported on Form W-2
- Click New Copy of Form W-2 (Desktop users click Add) to create a new version of the form, or click Review to review a copy already created. If you choose to use Quick Entry, select code P for box 12 and enter the amount. If you choose to use Step-by-Step Guidance, follow steps 4 and 5 below.
- Continue to the screen titled Enter any information listed in boxes 12 and 13 with entry fields for boxes 12 and 13
- Select P - Excludable moving expense reimbursements for the code and enter the amount reported to you in box 12
To enter moving expenses for Form 3903:
- From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Other Adjustments in the Federal Quick Q&A Topics menu to expand the section and then click Moving Expenses
- Click New Copy of Form 3903 (Desktop users click Add) to create a new copy of the form or click Review to review a form already created
- The program will proceed with the interview questions for you to enter or review the appropriate information