Students can only deduct moving expenses from the taxable portion of their awards (scholarships, fellowships, bursaries, certain prizes, or research grants), or from their employment income earned at the new location.
How to claim on TurboTax online:
From the menu, selectFind
Entermoving expensesin theFindwindow
SelectMoving Expensesfrom the list of results, then selectGo
TheYour Moving Profilestep appears. Follow the on-screen instructions to claim your moving expenses
Remember to always click onContinueorDoneat the bottom of each screen to save your entries.
How do I claim moving expenses in TurboTax CD/Download?
From the menu, selectFind
Entermovingin theFindwindow
SelectMoving profilefrom the list of results, then selectGo
TheMove during the yearstep appears. AnswerYes
TheYour Moving Profilestep appears. Follow the on-screen instructions to claim your moving expenses
Remember to always click onContinueorDoneat the bottom of each screen to save your entries.
If your moving expenses total more than the income you earn at your new location, TurboTax will carry the leftover amount forward so that you can claim it in a future tax year. You can see this amount in theReviewsection of TurboTax.