I heard that come tax season, I can right off my moving expenses. Is this true? I also heard that I might be able to write off my deposit, or a percent, that I put down to move in to a new place. Can someone please tell me what I can and cant write off?
2007-12-19 12:20:18 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
if you move 100 miles or more for your job you can write off moving expenses, 100% for that, & your travel & search, hotel you stay in + food.
can even claim fees for turning on utilities etc..
Have a great MOve !!
2007-12-19 13:07:59 · answer #1 · answered by Amanda H 5 · 0⤊ 1⤋
jwishz provided a good answer. Moving expenses are tax deductible. Your deposit probably is not. Instructions for your IRS Form 1040 provide information and there are IRS publications that go into more detail. You can download the forms and instructions you need at http://www.irs.gov/formspubs/lists/0,,id=97817,00.html
2007-12-19 12:30:12 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There is a great deal you can write off. I suggest going to the irs website: www.irs.gov and do a search for "moving expense deduction". Look for the "instruction" link which is in plain English and easy to understand
2007-12-19 12:24:20 · answer #3 · answered by jwishz 7 · 0⤊ 0⤋
Basically you can deduct the cost of moving your "stuff" and the cost of moving your "butt" (one trip only) and temporary storage and temporary lodging. The costs of buying or selling a home or breaking or acquiring a lease are NOT deductible as moving expenses.
2007-12-19 12:49:01 · answer #4 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Food during the move is *not* deductible.
2007-12-19 19:35:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋