I heard that if you reside in US less than 12 months - there is an option to move all or part of your moving expenses to the next year.
Can I move ALL of the moving expenses to the next year?
Can a person move ALL of the moving expenses to the next year if he is in US a bit more than 12 months?
Moving Expenses on 1040 - option to move to next year?
Moderator: Mark T Serbinski CA CPA
This is incorrect.
You can only claim expenses in the year you paid them in US.
What can happen is that you have insufficient income after the move to fully claim all the expenses, in which case *some* can be carried over.
But this is not an election.
You can only claim expenses in the year you paid them in US.
What can happen is that you have insufficient income after the move to fully claim all the expenses, in which case *some* can be carried over.
But this is not an election.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best