Comments on: How does carrying over moving expenses work, on my tax return? http://www.sqiweb.com/moving/moving/how-does-carrying-over-moving-expenses-work-on-my-tax-return Moving House ideas and information Tue, 24 Jan 2012 17:47:59 -0700 http://wordpress.org/?v=2.8.2 hourly 1 By: Sparky http://www.sqiweb.com/moving/moving/how-does-carrying-over-moving-expenses-work-on-my-tax-return/comment-page-1#comment-2089 Sparky Sat, 27 Feb 2010 12:28:59 +0000 http://www.sqiweb.com/moving/moving/how-does-carrying-over-moving-expenses-work-on-my-tax-return#comment-2089 On last year's return, take a look at form T1-M. There are three lines that are important here. Net moving expenses is thee total amount of moving expenses that can be claimed. Net eligible income is the amount of income earned after moving to the new location. Allowable moving expenses is the lower of the two amounts above. If the Allowable moving expenses is less than the net moving expenses, the difference is a carry-over, and can be claimed on your 2009 return, as long as you continue to have earned income from the new location.<br><b>References : </b><br> On last year’s return, take a look at form T1-M. There are three lines that are important here.

Net moving expenses is thee total amount of moving expenses that can be claimed.

Net eligible income is the amount of income earned after moving to the new location.

Allowable moving expenses is the lower of the two amounts above.

If the Allowable moving expenses is less than the net moving expenses, the difference is a carry-over, and can be claimed on your 2009 return, as long as you continue to have earned income from the new location.
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]]> By: wrighttax http://www.sqiweb.com/moving/moving/how-does-carrying-over-moving-expenses-work-on-my-tax-return/comment-page-1#comment-2088 wrighttax Sat, 27 Feb 2010 11:45:59 +0000 http://www.sqiweb.com/moving/moving/how-does-carrying-over-moving-expenses-work-on-my-tax-return#comment-2088 If you had someone due your return last year, in your copy of your return there should be a sheet called moving expense deductions, on it you will find all the information you are looking for.<br><b>References : </b><br> If you had someone due your return last year, in your copy of your return there should be a sheet called moving expense deductions, on it you will find all the information you are looking for.
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