Moving from US to India. Taking up a assignment next to an Indian company. Can I write-off my moving expenses?
I am relocating from the US to India. I will be employed near an Indian company. Can I write-off my travel expenses and moving expenses when I folder taxes for 2007?
Answers:
As long as you will still be file a US due return yes you can reduce by your moving expenses for 2007. I've attached links to moving expenses, also to the foreign income exclusion since you'll be working and living in India.
Maybe or perchance not. To the extent your 2007 income is excluded because of the foreign earn income exclusion or the housing exclusion or conjecture, you cannot steal a further presumption for moving expenses.
Details are provided in IRS Pub 54. See page 31 Allocation of Moving Expenses
http://www.irs.gov/pub/irs-pdf/p54.pdf...
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Answers:
As long as you will still be file a US due return yes you can reduce by your moving expenses for 2007. I've attached links to moving expenses, also to the foreign income exclusion since you'll be working and living in India.
Maybe or perchance not. To the extent your 2007 income is excluded because of the foreign earn income exclusion or the housing exclusion or conjecture, you cannot steal a further presumption for moving expenses.
Details are provided in IRS Pub 54. See page 31 Allocation of Moving Expenses
http://www.irs.gov/pub/irs-pdf/p54.pdf...