are moving expenses tax deductible if you're relocating for a job?

Answer 1

Yes. They are a deduction on the front of the form 1040 and save taxes whether or not you itemize deductions. Some rules apply, of course.

1. The deduction is taken on form 3903..only a few lines and the deduction then goes to form 1040. You can't file a 1040A or 1040EZ.
2. An employee must work full time for at least 39 weeks in the new location during the first 12 months immediately following the move.
3. You must move at least 50 miles (your new place of work must be at least 50 miles further from the former residence than your old job.)
4. You can deduct the cost of moving your household goods and your travel. The cost of a U-Haul or payments to a moving company plus the gas in the U-Haul is a deduction. Your travel can be your actual gas or a mileage allowance plus your lodging costs. Meals are no longer a deduction for moving. The mileage rate for 2005 was 15 cents per mile to August 31 and 22 cents per mile for the rest of the years. That will change for 2006 depending on gas prices.
5. Fun fact...you can deduct the cost of transporting your household pets as a moving expense but IRS has not allowed a deduction for household servants (butlers, maids, etc.) This is for real.

Answer 2

It can be, but you must move a certain distance away. This is defined each year by the IRS. They have rules about this on their website, IRS.gov, just search for job relocation or something similar.

Answer 3

Yes.

Answer 4

Follow this link:


http://www.irs.gov/pub/irs-pdf/p521.pdf