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Moving

Find ways to make that transition as smooth as possible come tax time.

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The basics
Every state taxes income differently

States tax income at different rates and some don't tax income at all. If you're keeping the same employer, make sure you update them so your taxes are withheld correctly.

Deducting moving expenses

There's no federal moving expense deduction anymore, unless you're active duty military, but some states still allow it. Keep your receipts to enter the costs at tax time in case yours does.

Save on capital gain from home sale

You can exclude up to $500,000 (joint filers), or $250,000 (single filers), from the sale of your primary home. Plus you can add improvement costs and some closing costs to your basis, or purchase price, to reduce your gains even more.

Check out the buzz over at our community forums
Concensio in State tax filing

Annuity payment distribution when moving

Mar 20, 2021 3 min read
howardbirenbaum in State tax filing

Moved from Maryland to Delaware in April

Mar 17, 2021 2 min read