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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 select
    display all forms
     to 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.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
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