Form 3903

Dictionary Says

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 Says

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

comments powered by Disqus
Hot Definitions
  1. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  2. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  3. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  4. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  5. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  6. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
Trading Center