Tax Deductible Moving

MOVING

You may be able to deduct your expenses if you move to start a new job or to work in a different location. Here are some tax tips involving deducting your moving expenses:

1. You must incur the moving expenses within one year from the date you start your new job or are at the new location.

2. Your new job must be at least 50 miles farther from your home than your previous job.

3. After the move, you must work at your new job or new location for at least 39 weeks the first year.

4. You can deduct your transportation and lodging costs but not your meals.

5. You cannot deduct the cost of selling your home or breaking your lease.

6. You cannot deduct expenses that are reimbursed by your employer.

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