Moving costs - overseas move ok?

  1. You have chosen to ignore posts from atigias. Show atigias's posts

    Moving costs - overseas move ok?

    hello. I moved overseas last year to take up a job. I will be filing taxes as an overseas filer. Can I claim moving expenses deduction (air fare and some baggage costs)? 

    2) After I moved overseas, I had to have some surgery. Totally, I paid about       3, 000 dollars for the surgery (including all associated tests etc.). Although I paid in the local currency, can I claim this under medical expenses when I file as an overseas filer? 

    Thank you. 
     
  2. You have chosen to ignore posts from MASocietyofCPAs. Show MASocietyofCPAs's posts

    Re: Moving costs - overseas move ok?

    In Response to Moving costs - overseas move ok?:
    [QUOTE]hello. I moved overseas last year to take up a job. I will be filing taxes as an overseas filer. Can I claim moving expenses deduction (air fare and some baggage costs)?  2) After I moved overseas, I had to have some surgery. Totally, I paid about       3, 000 dollars for the surgery (including all associated tests etc.). Although I paid in the local currency, can I claim this under medical expenses when I file as an overseas filer?  Thank you. 
    Posted by atigias[/QUOTE]

    Dear atigias:

    As to your first question, yes, you are entitled to claim a moving expense deduction by filing Form 3903 with your return.  You must remain employed in the area to which you moved during 39 out of the 52 weeks following you move to claim and retain the deduction.
    With regard to the medical expenses, if you have the bills and can document the converted currency cost in US dollars, you should include these expenses with any other qualified medical expenses you may have for 2011 in the first section of Schedule A and, if the total exceeds 7.5% of your Adjusted Gross Income, after the Foreign Earned Income Exclusion from Form 2555 and you deductible moving expenses, you will add that amount to your other Itemized Deductions to see if your total is more than the Standard Deduction to warrant filing the Schedule A with your return.

    Hope this helps in preparing your returns!
    M
    ark H. Misselbeck, C.P.A., M.S.T.
    Tax Principal, Katz, Nannis + Solomon, P.C.
     
  3. You have chosen to ignore posts from atigias. Show atigias's posts

    Re: Moving costs - overseas move ok?

    Thank you so much for your reply. Very much appreciated. 


    In Response to Re: Moving costs - overseas move ok?:
    [QUOTE]In Response to Moving costs - overseas move ok? : Dear atigias: As to your first question, yes, you are entitled to claim a moving expense deduction by filing Form 3903 with your return.   You must remain employed in the area to which you moved during 39 out of the 52 weeks following you move to claim and retain the deduction. With regard to the medical expenses, if you have the bills and can document the converted currency cost in US dollars, you should include these expenses with any other qualified medical expenses you may have for 2011 in the first section of Schedule A and, if the total exceeds 7.5% of your Adjusted Gross Income, after the Foreign Earned Income Exclusion from Form 2555 and you deductible moving expenses, you will add that amount to your other Itemized Deductions to see if your total is more than the Standard Deduction to warrant filing the Schedule A with your return. Hope this helps in preparing your returns! M ark H. Misselbeck, C.P.A., M.S.T. Tax Principal, Katz, Nannis + Solomon, P.C.
    Posted by MASocietyofCPAs[/QUOTE]
     
Sections
Shortcuts

Share