December 9, 2014
If you moved in 2014 because of a new job location, you may be entitled to a tax deduction for your moving expenses. To qualify for a tax deduction, your new job location must be fifty miles further from your old home than the distance from your old home to your old job. In other words, if your commute would be increased by fifty miles or more from your old house, you have met the distance test.
In addition to the distance test, you must meet a length-of-employment and commencement-of-work test. During the twelve months following the move, you must have been employed full time for at least 39 weeks. Self-employed people have slightly different rules. The work test is waived if you have certain family or job misfortunes.
For details on the rules for deducting moving expenses, contact us.
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