Can I deduct my moving expenses?
May 29, 2002
Subject: Moved to temp location to permanent home
Date: Mon, 1 Apr 2002
Dear Mr. Gray,
I started my first job after graduation in January 2000 and I moved to a temporary location (apartment) in March 2000 and then I moved to a house in October 2001 and my company paid for moving. My question is can I deduct the amount I paid on my final move which was in October 2001?
Date: April 2002
Maybe. Since the expenses were incurred within one year of starting employment, they may qualify as moving expenses.
If your expenses were reimbursed by employer and excluded from your wages, they will not be deductible. You have already received the tax benefit.
To get more details about qualifying moving expenses, see IRS publication 521 and Form 3903 and the related instructions.
We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.
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