Moving personal items from a place other than the home to the new location is also deductible, but only up to what it would have cost if the items were relocated from the home. Connecting and disconnecting utilities for household appliances are also deductible. Other costs that can be deducted include packing and transporting furniture and other household items, the cost of insuring the items, and for the storage of household goods for up to 30 consecutive days. However, meals are not deductible as a moving expense. Parking fees and tolls are also deductible. Vehicle expenses can be deducted by either deducting the actual costs of gas, oil, and even repairs, but not depreciation, or the taxpayer can use the standard mileage rate, which is less than the mileage rate for business because it does not include the depreciation portion. Additionally, employer-provided expense reimbursements are no longer excludable from income, except for those in the military.Įach member of the family can deduct traveling costs, including one day of lodging before departure and after arrival. Under the new tax package passed by the Republicans at the end of 2017, known as the Tax Cuts and Jobs Act, moving expenses, will no longer be deductible for tax years 2018 through 2025, except for members of the military. Members of the Armed Forces can deduct the cost of moving their family overseas.
The deduction can also be claimed by people who were working only part-time or were unemployed and subsequently moved to a different location for a full-time job. The moving expense deduction is claimed as an adjustment from gross income, so it can be claimed even if the taxpayer does not itemize deductions. However, the work test requirement does not have to be fulfilled to take the deduction by the due filing date. Unreimbursed moving expenses to a new full-time job or to a new location for the same job are generally deductible if they meet the 50 mile distance test and the 39 week or 78 week work test for remaining in the new location. Moving Expense Deductions › Money › Taxes › Personal Tax Deductions and Tax Credits Moving Expense Deductions
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