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Can I Deduct Moving Costs?
Question: Can I deduct moving costs?
Answer: In some cases, yes. If your new job site is at least 50 miles further than the old one, and if you work at least 39 weeks during the first year at the new location, then you may be able to write off such costs as moving household goods, lodging (but not meals), tolls, etc. If you are self-employed you must work 78 weeks during the first two years after the move, including 39 weeks during the first year. For details, check form 3903 and review with a tax professional.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2012 Realty Times. All Rights Reserved.
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