Is Your Move Tax Deductible?

If you are moving because of a job opportunity, you may be able to get some help from Uncle Sam in recovering your moving expenses. There are strict time and distance requirements and you will need to fill out the 1040 long form, but if you think you apply, hang onto all of your receipts and seek an accountant during next year's tax season. Here's a rundown of the requirements:

• Your move must have occured within one year of your start date at your new job, unless you have a valid reason for moving more than a year after you started your new job.


• The location of your new job must be at least 50 miles farther from your previous home than your last workplace was. So if you lived three miles from your old job, your new job must be at least 53 miles from your old home.


• You need to have worked full-time for at least 39 weeks within a year after moving to your new location. The worked weeks don't have to be consecutive or even with the same employer, but if you are self-employed, you need to have worked full-time for 78 weeks during the first 24 months after your move.

If you are confused about whether or not your move is tax-deductible, see this flow chart here, or read more at http://www.irs.gov/publications/p521/index.html.