If had to transfer because of your job is rent in your second home a tax deduction?

Answer 1

Rent paid for the second home is not deductible, but it you itemized your deductions of the Schedule A, rather than taking the Standard Deduction for your filing status, you might be able to claim the moving expenses, if you meet all of the qualifications

Topic 455 - Moving Expenses

If you moved because of a change in your job location or because you started a new job, you may be able to deduct your moving expenses if your move is closely related to the start of work. To qualify for the moving expense deduction, you must meet both the distance and the time tests, unless you are a member of the armed forces and your move was due to a permanent change of station.

Your move will meet the distance test if your new main job location is at least 50 miles farther from your former home than your old main job location was. Use the shortest distance of the most commonly traveled routes between these points. To determine this, first figure the distance between your former residence and your new job and then subtract the distance between your former residence and your old job. If the result is 50 miles or more, you have met the distance test. For example, if the distance from your former residence to your new job is 70 miles and the distance from your former residence to your old job is 5 miles, you will meet the distance test.

The second test concerns time. If you are an employee, you must work full–time for at least 39 weeks during the 12 months right after you move. If you are self–employed, you must work full time for at least 39 weeks during the first 12 months and for a total of at least 78 weeks during the first 24 months after you move. There are exceptions to the time test in case of death, disability and involuntary separation. For more information if you qualify to deduct moving expenses please refer to Publication 521.


Moving expenses are figured on Form 3903 (PDF) and deducted as an adjustment to income on Form 1040 (PDF). You cannot deduct any moving expenses that were reimbursed by your employer.

http://www.irs.gov/publications/p521/index.html
For more information call the Internal Revenue Service at
1-800-829-1040

Answer 2

If it's a short-term temporary assignment, unreimbursed lodging costs can be deducted as an employee business expense.

If this is a permanent assignment and you simply chose to leave your family in the area of your former job you cannot deduct your lodging costs. You may be able to take a deduction for a job related move -- the one-time costs of moving yourself and your belongings to the new job location -- if you meet the time an distance requirements.

Answer 3

i imagine that the area you're operating into is the terminology that you're utilising. A loan is a loan used to purchase resources, secured hostile to the resources that is determining to purchase. What you pick to do is stumble on the fairness at your position of dwelling to purchase a unique resources. once a economic employer is popular with that, they're maximum possibly going to grant you a house fairness loan fee, no longer a loan fee. once you wrap your head around the theory that what you're doing, in essence, is laying aside a loan to pay for the condominium resources, the IRS regulations on deducting the interest should be more convenient to make certain. In different words, how may they take care of it in case you borrowed that funds from traders? also, you're conscious that in case you try this, and for some reason can no longer pay the loan lower back, you're risking the business employer taking your position, no longer the condominium resources? particular, you may probable come out of it with funds, because that is in common words 1/2 the fairness of your position, yet it really isn't any longer countless convenience once you should flow.

Answer 4

No. Recommend you read about moving expenses. Go to irs.gov under individuals and put in a search for moving expense. You can deduct lodging related to a move IF the move qualifies as a deduction.

Answer 5

Why should you do that?