Job-related moving costs deductible


If you changed job locations or started a new job, you might be able to deduct your moving expenses. The expenses are deductible in the year paid or incurred, but you can elect to deduct them in the year you are reimbursed.

These expenses are deductible, provided that the amount is adjudged "reasonable":

* Moving household goods and personal effects.

* Traveling (including lodging and 80 percent of the cost of meals) to the new residence.

* Traveling (including lodging and 80 percent of meals) after obtaining employment to look for a new home.

* Lodging and 80 percent of meals in temporary quarters in the new job site's general area for up to 30 days while waiting to move into the new home.

* Some expenses of selling the old home and buying the new one.

* Your direct moving expenses are fully deductible. However, the total deduction for each job move involving indirect expenses is limited to $3,000. Within this ceiling, house-hunting trip costs and temporary living expenses are limited to $1,500.

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