Moving for most people is high on the list of painful activities. But, if you can squeeze a tax deduction out in the process, it may help a little. Not everyone can deduct their moving expenses. The IRS rules that guide deductions for moving expenses are complicated, so it’s important to check with a tax professional.
Generally, the IRS will allow deductions if the move is job related and is 50 miles or more away from the old employment.
If your job-related move qualifies, you could write off the moving company’s bill, packing costs, and storing household goods within 30 days of relocation. Also possible are one-way travel expenses to your new house. Travel expenses can add up to thousands of dollars, and if you qualify, you can get a hefty tax break that year.
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