what moving expenses can you write off on your taxes?

Question

i'm moving soon and whated to know what i can claim on my taxes

i'm moving soon and wanted to know what I can claim on my taxes

Answer 1

"To qualify for job-related moving expense deductions, the move must be connected with taking a new job that is at least 50 miles farther from your old home than your old job was. If your former job was 10 miles away from your old home, for example, the new job has to be at least 60 miles away from that old home. Note that it does not matter how far the new home is away from your new job. If you are moving to take your first job, the 50-mile test applies to the distance from your old home to your new job location.

You have to work full time for at least 39 weeks in the first 12 months after the move. You also have to work full time at the new location for at least 78 weeks out of the first 24 months. (To pass these tests you must work in the new area, not necessarily at the same job for the required time; and if you lose your job for reasons other than willful misconduct, the time test is waived.) You claim the deductions on your tax return for the year of the move even if you haven't yet met the 39- or 78-week test by the time you file. If it turns out you are not eligible, you should either file an amended return for the year or report as income on your next tax return the amount previously deducted as moving expenses.

Congress has limited the kinds of expenses that can be written off, but the lawmakers have retained what are probably the most common and the most valuable write-offs. When you qualify to deduct moving expenses, you can deduct the cost of moving your household goods to the new location and you can deduct the cost of moving yourself and your family—travel and lodging expenses—to the new home.

If you drive your own car, you can deduct 18 cents a mile for 2006 moves. You may also add the cost of parking and tolls to the standard mileage rate."

Answer 2

I agree with the previous answer.

As far as the expenses for driving your own car, you should keep track of the mileage as well as the actual expenses (toll, parking, gas etc). Check the IRS published $/mile rate for the dates of your move. Then decide whether actual or standard rate gives you greater deduction. Currently IRS is allow 20 cents/mile for 2007, but it may change. http://www.irs.gov/taxpros/article/0,,id=156624,00.html

Other deductible items:
Cost for connecting or disconnecting utilities
Packing and crating
Insurance for transported goods
In-transit storage and insurance (max 30 days)
Reasonable lodging expenses from after the day furnishings were moved out of the old residence to the day of arrival.

For more information, check out IRS Publication 591 http://www.irs.gov/publications/p521/ar02.html

Best wishes.

Answer 3

If you are moving because of a job relocation which is 30 miles from your old place, you can claim all expenses related to moving. For example, the moving company, packing supplies, or moving van rental expenses and the gas associated with it.