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Can moving cost such as truck rental incurring personal car loss due to accident while moving home contents or home staging cost be included in sale expenses

 
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TomK2023
Expert Alumni

Can moving cost such as truck rental incurring personal car loss due to accident while moving home contents or home staging cost be included in sale expenses

No, truck rental and subsequent car loss due to, an accident are not deductible.  For tax years 2018 through 2025, if you are an individual, casualty or theft losses of personal-use property not connected with a trade or business or a transaction entered into for profit are deductible only if the loss is attributable to a federally declared disaster

 

IRS - Pub. 547: Casualties, Disasters, and Thefts

 

You may still enter the loss in the casualty section, because some states may allow the deduction, and your federal entry will flow to your state return.  But you will have to answer that it was not caused by a federal disaster.

 

However, selling costs can include escrow fees, legal fees, real estate agent commissions, advertising costs, and even home staging fees.


When you get to the Sales Information screen where you enter the date sold and the selling price, you'll also have a box for entering your sales expenses. Your staging costs will be included in the sales expenses.

 

Enter Casualty Loss:

  1. Open your return (if not already open)
  2. Enter "casualty loss" in the Search box.
  3. Click on "jump to casualty loss link.
  4. Enter your information.
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