Write Off Your Moving Expenses

Moving expenses are tax deductible if:

 

  • l Your new job or job transfer is at least 50 miles farther from your home than the old house was.
  • lf you had no previous job, the new one has to be at least 50 miles from your old house.
  • lf your move makes your commute shorter than it was prior to the move.
  • If you are in the armed forces and had a permanent change of station.
  • If you’re working full-time (you expect to work at least 39 weeks out of the next 12 months).
  • If you incur expenses within one year from the day you reported to work at your new job.]

 

The required length of time is waived in cases of a new job for members of the armed forces, those transferred by an employer, those who lost a job through no fault of their own, and those returning to the United States from abroad when they retire (or their survivors).

 


Qualified deductions include:

 

  • Packing and transporting household goods
  • Mileage for use of your own car (or gas and oil expenses)
  • Tolls and parking fees on the trip
  • Up to 30 days' storage of household goods
  • Disconnecting and connecting utilities
  • Transportation and lodging for yourself and members of your household while traveling to the new home.

 

No longer allowable: $3,000 more for up to 30 days’ temporary living expenses, house hunting trips and costs of selling or buying a home.

Lyndon Sommert

Lyndon Sommert

Associate Broker
CENTURY 21 Platinum Realty
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