If my moving expenses were ~$500, is it worth paying $100 to claim them with turbotax deluxe edition?

[DanO · Accepted solution]

I would say there would be no profit in reporting the $500 moving expense.

The reduction of expense is taken from your taxable income, so if you're being taxed in the 20% bracket it would lower your tax by approximately $100 or maybe less.

Here is a link to the IRS tax table so you can see exactly what the difference would be.

https://www.irs.gov/instructions/i1040tt