Form W-2, box 12, code P - excludable moving expense reimbursements
Report code P (excludable moving expense reimbursements)
For Code P to transfer to Form 3903, line 4, you need to enter information regarding the move on the 3903 screen, in the
1040 Adj
folder. If nothing is entered in the 3903 screen, the amount for Code P will be reported as Other earned income
in line 1h of the 1040. Based on Form 3903, line 5, the following will occur:
- If Form 3903, line 3 is less than line 4 - The taxpayer can't deduct their moving expenses. Subtract line 3 from line 4 and include the result on Form 1040, line 1. Right-click in Forms View and selectdisplay all formsto review the 3903 calculation.
- If Form 3903, line 3 is greater than line 4 - The taxpayer can deduct their full moving expenses. Subtract line 4 from line 3 and report the result on Schedule 1, line 14 as your moving expense deduction.
