3.2 Itemized Deductions/Standard Deductions: Education & Work-Related Expenses
I moved to a different state to accept a new job. Will I be able
to deduct all of my moving expenses?
When moving expenses coincide closely with a job transfer or the start
of a new job, some of those expenses may qualify for deduction as an adjustment
to income on Form 1040 (PDF), U.S. Individual
Income Tax Return. You must have moved far enough, and, generally, closer
to your new job than you were before you moved. You must have started and
kept full-time work for a specific period after the move. Not all moving expenses
are deductible. Deductible expenses are generally limited to one-way transportation,
including lodging, of your household members along the most direct route to
your new residence, and transportation, parking and storage of household goods.
You cannot deduct a reimbursed expense, unless the reimbursement has been
counted in your wages. For more information, refer to Publication 521, Moving
Expenses; Tax Topic 455, Moving Expenses; and the Instructions
for Form 3903 (PDF), Moving Expenses.
References:
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