Members of the Armed Forces can deduct moving expenses.
Автор: InfoTaxSquare
Загружено: 2024-09-16
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The term'moving expenses' encompasses the expense of moving household goods and personal effects, storage, and travel, which includes lodging from the former residence to the new residence.
Enhancing the salability of an old residence, selling fees, and lease settlement costs cannot be counted as moving expenses.
Moving expenses that are ineligible
1. Setting up your lease at the previous location is not considered a moving expense.
2. Real estate commission is not eligible for inclusion in moving expenses.
3. The cost of moving expenses does not cover improvements to enhance the salability of old residences.
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