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I relocated a home to Idaho during 2016 and didn't see if that was possibly deductible?

Also I received a few 1099-C Forms and didn't see where those would be entered.
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MichaelDC
New Member

I relocated a home to Idaho during 2016 and didn't see if that was possibly deductible?

More details about your move would be necessary to determine if your move is deductible..

When claiming unreimbursed moving expenses. you can also include the cost of traveling to the new location for yourself and other members of your household. You can include the actual cost of oil, gasoline, parking fees and highway tolls. In lieu of using the actual cost of gasoline and oil, the IRS permits you to calculate those costs using the standard mileage rate.

For a long move, you might include the cost of lodging at a hotel on the way to your new home. Other reasonable moving expenses may include the cost of rental trucks, short-term storage, and boxes.

There are the 2 tests that must be met to be able to deduct moving expenses:

1.       Distance test -  The distance between your new job and your former home must be at least 50 miles farther than your previous employer is from that home.

2.       Time test - You must work full-time for a minimum of 39 weeks during the initial 12-month period that starts on the day you arrive in the new location. You can still satisfy this requirement when the 39 weeks are not consecutive and even when it's for multiple employers. (Typically, this means you start and hold a new job within 3 months of your move.)

Here's what to do:

1.       Open (continue) your tax return.
(To do this, sign in to TurboTax and click the orange Take me to my return button.)

2.       In the search field, search for moving expenses and then click the "Jump to" link in the search results.

3.       Follow the onscreen instructions through the interview.


Follow these steps to enter a 1099-C (Cancellation of Debt)

1.       Open (continue) your return.

2.       In the TurboTax program, search for 1099-C or 1099C (lower-case works also) and then click the "Jump to" link in the search results.

3.       Select the type of cancelled debt (main home or other) and then click Continue.

4.       Follow the onscreen instructions to enter information from your 1099-C.

 

 

 



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1 Reply
MichaelDC
New Member

I relocated a home to Idaho during 2016 and didn't see if that was possibly deductible?

More details about your move would be necessary to determine if your move is deductible..

When claiming unreimbursed moving expenses. you can also include the cost of traveling to the new location for yourself and other members of your household. You can include the actual cost of oil, gasoline, parking fees and highway tolls. In lieu of using the actual cost of gasoline and oil, the IRS permits you to calculate those costs using the standard mileage rate.

For a long move, you might include the cost of lodging at a hotel on the way to your new home. Other reasonable moving expenses may include the cost of rental trucks, short-term storage, and boxes.

There are the 2 tests that must be met to be able to deduct moving expenses:

1.       Distance test -  The distance between your new job and your former home must be at least 50 miles farther than your previous employer is from that home.

2.       Time test - You must work full-time for a minimum of 39 weeks during the initial 12-month period that starts on the day you arrive in the new location. You can still satisfy this requirement when the 39 weeks are not consecutive and even when it's for multiple employers. (Typically, this means you start and hold a new job within 3 months of your move.)

Here's what to do:

1.       Open (continue) your tax return.
(To do this, sign in to TurboTax and click the orange Take me to my return button.)

2.       In the search field, search for moving expenses and then click the "Jump to" link in the search results.

3.       Follow the onscreen instructions through the interview.


Follow these steps to enter a 1099-C (Cancellation of Debt)

1.       Open (continue) your return.

2.       In the TurboTax program, search for 1099-C or 1099C (lower-case works also) and then click the "Jump to" link in the search results.

3.       Select the type of cancelled debt (main home or other) and then click Continue.

4.       Follow the onscreen instructions to enter information from your 1099-C.

 

 

 



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