Moving Master

Moving Expenses – What Is Tax Deductible?

Moving Expenses and TaxesAccording to the Internal Revenue Service, certain moving-related expenses are deductible on your federal income tax form. Check the chart below to see what moving-related expenses can and cannot be claimed.

 

Expense Explanation
Reasonable traveling expenses 

  • Gas and oil
    or
    mileage allotment.
  • Parking fees
  • Tolls
  • Lodging
  • Meals
  • The IRS allows you to deduct expenses directly
    related to traveling from your old home to your new home.
  • Side trips for sightseeing or visiting relatives
    are not allowed.
  • You are only allowed to claim one option .
    either gas and oil expenses OR a mileage reimbursement of ten cents a
    mile.
  • Parking fees and tolls are deductible.
  • General repairs, insurance, maintenance and
    depreciation of your car is not deductible.
  • You are
    NOT allowed to deduct the cost of meals while traveling.
Household goods and personal effects
 

  • Packing, crating
    and transporting
  • Connecting and
    disconnecting utilities
  • Shipping
    cars
  • Shipping
    pets
  • Storage
  • The IRS allows you to deduct the cost of any
    packing, crating and transporting of household items and personal
    belongings.
  • You are also allowed to deduct the cost of
    connecting and disconnecting utilities.
  • You will be able to deduct the cost of shipping
    your car and any family pets that require special handling.
  • You will be able
    to deduct the cost of storing and insuring your belongs for a period of
    30 days after they are moved from your old home, but before they are
    placed in your new home.
 

 

 
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