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I have a tax related question for you CPA types...

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SKKY Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-04 04:07 PM
Original message
I have a tax related question for you CPA types...
...The question is about a deductions. I currently renting a car due to my vehicle being shipped to my next duty station overseas. Can I claim this as a deduction associated with a move since I'm not being reimbursed by the Navy for this? It seems valid to me. Thanks much.
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aQuArius Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-04 04:46 PM
Response to Original message
1. Job realated, non-reimbursed moving expense....
YUP! If it smells like a tax deduction it probably is. You have a bona-fide deduction, just keep your records of the expense. Tax season is almost upon us, hoorah!
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SKKY Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-04 06:31 PM
Response to Reply #1
2. Thanks much aQuArius!
Edited on Fri Dec-24-04 06:32 PM by ALiberalSailor
You just made my day! I was hoping this would be the case, considering it's costing me about $1,100.00 dollars to rent a car until I transfer.
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ajacobson Donating Member (828 posts) Send PM | Profile | Ignore Fri Dec-24-04 06:32 PM
Response to Original message
3. IMHO, yes
see IRS Publication 3, Armed Forces' Tax Guide, page 6

http://www.irs.gov/pub/irs-pdf/p3.pdf

Claim those expenses on Form 3903. Note that probably only a rental equivalent to your shipped vehicle would be deemed a reasonable expense. If you regularly drive a beater but rent an Escalade, that might not considered to be eligible for full deduction if audited.

(Full disclosure: I'm not a CPA but I am an accounting student, so seek advice from a licensed professional for absolute assurance.)
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SKKY Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-04 06:34 PM
Response to Reply #3
4. I drive a 2002 Mazda Protege5, and that's the vehicle I shippped...
...and although I only paid for a Compact (Chevy Cavalier equivalent), they gave me a Malibu for the same price.
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SKKY Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-04 06:41 PM
Response to Original message
5. I would like to apologize to everyone who read this...
...and had to decipher what I was trying to say. After reading my own post, I can see that I should never be allowed on DU while suffering sleep deprivation.
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