Form 3903

AAA

DEFINITION of 'Form 3903 '

A tax form distributed by the Internal Revenue Service (IRS) and used by taxpayers to deduct moving expenses related to taking a new job. If a taxpayer has moved more than once for a job, then a separate Form 3903 is used for each qualifying move. Reasonable moving expenses, such as the cost of hotels visited while moving, can be deducted.




INVESTOPEDIA EXPLAINS 'Form 3903 '

In order to deduct moving expenses the new workplace must meet both a distance and a time test. The new place of employment must be at least 50 miles farther from the old residence than the old workplace was. The taxpayer must also work full time at the new job for at least 39 weeks in the year after the move unless disability, transfer or termination change the taxpayer's employment status.


Guidance for Form 3903 is found in IRS Publication 521. The form is filed in conjunction with Form 1040 or Form 1040R.


Members of the armed forces do not have to meet the distance and time requirements that other taxpayers are required to meet in order to claim expenses. In addition, retirees or survivors who move to a new home in the U.S. only have to meet the distance requirement if the taxpayer's old home and old job were outside the country

RELATED TERMS
  1. 1040 Form

    The standard Internal Revenue Service (IRS) form that individuals ...
  2. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  3. Deduction

    Any item or expenditure subtracted from gross income to reduce ...
  4. Tax Return

    1. The tax form or forms used to file income taxes with the Internal ...
  5. Proof of Charitable Contributions ...

    Substantiation required by the Internal Revenue Service for a ...
  6. Quid Pro Quo Contribution

    A charitable donation for which the donor receives something ...
Related Articles
  1. An Overview Of Itemized Deductions
    Taxes

    An Overview Of Itemized Deductions

  2. Simple Last-Minute Tax Tips
    Taxes

    Simple Last-Minute Tax Tips

  3. Tax Deductions You May Be Missing
    Taxes

    Tax Deductions You May Be Missing

  4. 10 Tax Benefits For The Self-Employed ...
    Entrepreneurship

    10 Tax Benefits For The Self-Employed ...

comments powered by Disqus
Hot Definitions
  1. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  2. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  3. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  4. Budget Deficit

    A status of financial health in which expenditures exceed revenue. The term "budget deficit" is most commonly used to refer ...
  5. Floating Exchange Rate

    A country's exchange rate regime where its currency is set by the foreign-exchange market through supply and demand for that ...
  6. Underwriting

    1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments ...
Trading Center