Moving Expenses

The term moving expenses, as it relates to tax law, is a potential tax deduction. However, the expenses must fit into specifically definable IRS tax deduction rules. For example, individual and family moving costs are usually only tax deductible when the individual must relocate due to a new job or a transfer from within an existing job. Other criteria must be met (though these may change from year to year) including the distance of the move and the time limits of that move. Generally, any expenses covered can be in use as a deduction for about one year after the start of the new position. This usually includes shipping and packing by a professional, storage fees and transportation costs.

Fast Facts

  • To move a 2-bedroom home, with 2 adults and 2 children, of about 1250 square feet, there is generally about 8750 pounds of valuables that need to be moved.
  • The only way to take a moving expense deduction is to have full proof of all costs associated with the move.

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