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How Can I Deduct the Cost of Moving on My Federal Income Taxes?

Moving has to be one of the most annoying tasks on the planet. And God forbid you’ve been asked by a friend to help them move. Talk about a thankless job.

The days of walking off the street and landing a job at one of the Big 3 Auto companies and working until retirement is long gone. People find themselves moving numerous times to new places to take new employment positions.

So if we have to move, can we at least get paid for it or deduct it off our income taxes?

You may be able to deduct your moving expenses on your tax return, but there is a specific rule you must adhere to for qualification.

A moving expense deduction can be claimed if the distance from your old home to your new place of employment is more than 50 miles than the distance from your old home to your old place of employment.

A better way of explaining that last paragraph is if your new job is more than 101 miles away, you can take the deduction.

You also must actually work in the area you move to for at least 39 weeks of the year you get there. You do not have to work at the same job or for the same company the entire time.

If you’re self-employed, the moving test is tougher. Although the distance required to have moved is the same, you must work in the new area for 78 weeks out of the two years immediately following your move. And you must live there for two years to get the deduction.

If your employer reimbursed you for whatever expenses you incurred, you can’t turn around and claim those expenses at tax time.

Yes moving is inevitable and an annoyance, but for some, at least it can be written off your taxes.

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