[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

taxes and moving



Perhaps everyone but me knew this, but on the off chance it saves someone a few bucks ...

If within 12 months of moving (there is a distance test) you start a new fulltime job (or are transferred and relocated for work), you can subtract some of your moving expenses from your income.  Moving expenses are not an itemized deduction (i.e.. don't need to exceed the  standard deduction to be useful), they are an adjustment to your gross income, like the student loan interest.  So you do not need to itemize to gain this benefit.  If you moved to take a new job I would look into this...

I wish I has known this ten years ago when I moved from DC to TX....

For more info read...

IRS Publication 521, Moving Expenses
http://www.irs.gov/pub/irs-pdf/p521.pdf



Jill Jackson

A posting from the Archives & Archivists LISTSERV List!

To subscribe or unsubscribe, send e-mail to listserv@listserv.muohio.edu
      In body of message:  SUB ARCHIVES firstname lastname
                    *or*:  UNSUB ARCHIVES
To post a message, send e-mail to archives@listserv.muohio.edu

Or to do *anything* (and enjoy doing it!), use the web interface at
     http://listserv.muohio.edu/archives/archives.html

Problems?  Send e-mail to Robert F Schmidt <rschmidt@lib.muohio.edu>