What Can I really deduct for Military moving expenses from one duty station to the next? The IRS verbiage is very vague.
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You can deduct the reasonable unreimbursed expenses of moving you and members of your household. Below is breakdown of costs that should fit in the category boxes in the "Moving Expenses" topic in TurboTax.
Moving Household goods and personal effects:
You can deduct the expenses of moving your household goods and personal effects, including expenses for hauling a trailer, packing, crating, in-transit storage, and insurance. You can't deduct expenses for moving furniture or other goods you bought on the way from your old home to your new home.
Storing and insuring household goods and personal effects. You can include only the cost of storing and insuring your household goods and personal effects within any period of 30 consecutive days after the day these goods and effects are moved from your former home and before they are delivered to your new home.
Travel:
You can deduct the expenses of traveling (including lodging within certain limitations, but not meals) from your old home to your new home, including car expenses and airfare.
You can deduct as car expenses either:
• Your actual out-of-pocket expenses, such as the amount you pay for gas and oil for your car, if you keep an accurate record of each expense; or
• The standard mileage rate of 18 cents a mile (22 cents a mile after June 30, 2022).
You can add parking fees and tolls to the amount claimed under either method.
You can't deduct any part of general repairs, general maintenance, insurance, or depreciation for your car. You can't deduct any expenses for meals. You can't deduct the cost of unnecessary side trips or lavish and extravagant lodging.
You should have a code "P" in box 12 of your W2. That is the government reimbursement amount that you will include in the "Moving Expenses" topic.
Click here for more details on the form 3903 for Moving Expenses.
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