Moving Costs
If a new job forces you to sell your home and move, you can deduct some
job-related moving costs. Your new job must be at least 50 miles from the old
and you must work full time at the new work place for 39 of the 52 weeks
following the move. Deductions include travel or transportation costs and
expenses for lodging and storing your household goods.
To be eligible for moving costs
deductions if you are self-employed, you must work full-time for at least 39
weeks during the first 12 months and a total of 78 weeks during the first 24
months after arriving at the new job location.
Check with your tax professional
and state and local tax authorities to learn about home selling-related tax
benefits.
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