Hello. I moved from Colorado to New York in June 2019. Looking at some of the information available online, it says that until 2025, moving expenses deduction won't be allowed unless you're a part of the military. However, I also read from a couple of sources that non-military folks can still use this deduction on their state returns for the state of CALIFORNIA and NEW YORK. My moving cost was ~$10K so it would make a huge difference in my taxes.
Any input on this?
Here is a link where this is discussed
https://www.creditkarma.com/tax/i/moving-expense-deduction/
"Your state may also choose to pass a new law changing its default rules to either allow or disallow the deduction for moving expenses. For example, in New York, the state tax code updates automatically when IRS rules change, so the suspension of the moving tax deduction should apply in this state. However, New York passed a law after tax reform specifying that certain provisions of the Tax Cuts and Jobs Act would not be incorporated into state law — including the provision suspending the deduction for moving expenses"
Thanks
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Yes, you are correct, you can deduct your moving expenses on your New York tax return. Here is where to enter that:
To review the rules for figuring your deduction, click here. Look at S-135 on page 12.
Yes, you are correct, you can deduct your moving expenses on your New York tax return. Here is where to enter that:
To review the rules for figuring your deduction, click here. Look at S-135 on page 12.
Thank you SO MUCH. You were extremely helpful. I called the "Turbo tax LIVE" service and the tax specialist told me that what I was saying about NY wasn't correct (even though its clearly mentioned in the document below at the NY.gov website).
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