House/Garage move

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My husband and I and the help of two companies picked up our house and garage and moved them to a different lot in our town. We did as much of the work as we could as my husband is in the excavation business. Are we allowed to deduct any of the expenses or our time for this move?

AliciaP1Answer

Alumni - Intuit

The garage stores my husband's 10 wheeler, fuel tank (diesel), large compressor, work bench and tools. The expenses are a percentage from electricity, property taxes, insurance and building maintenance. His bobcat and loader are serviced in the garage as well.

If you can support that the portion of the move that was for the business was an "ordinary and necessary" expense, then you can deduct a percentage portion of the move as a business expense. See What self-employed expenses can I deduct? for more detailed information.

@EemiaD

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Hal_Al

Level 15

No. None of your time is deductible. And you may not add the value of your time to your cost basis.

Any out-of-pocket costs (e.g. what you paid the two companies) is not deducted, on your tax return, but is added to your cost basis.

EemiaDAuthor

Level 2

I forgot to add that my husband works for himself and uses the garage for his business. (Services machines, stores machines, tools). We are in MA if that is a concern. Thank you for your help!

KrisD15

Alumni - Intuit

Please clarify what you mean by "uses the garage for his business".

How have you been expensing the use of the garage?

@EemiaD

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MinhT1

Alumni - Intuit

Moving expenses are no longer deductible except for military relocations.

And also as a general principle, you can never deduct your own time and labor.

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EemiaDAuthor

Level 2

I forgot to add that my husband works for himself and uses the garage for his business. (Services machines, stores machines, tools). We are in MA if that is a concern. Thank you for your help!