We moved our primary residence from California to Pennsylvania. Can the moving expenses be included in the cost basis of old house, the new house, or neither? Can other expenses related to the relocation (eg, transportation, temporary housing, etc.) also be included in the basis? My home-based business also moved. How should I treat the business portion of the relolaction expenses?
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Moving expenses cannot be included in the basis of a home you sold or purchased, nor any other expenses related to the move.
Due to the tax code changes moving expenses are not deductible on a federal tax return, except for military permanent change of station, for tax year 2018 thru 2025.
Moving expenses cannot be included in the basis of a home you sold or purchased, nor any other expenses related to the move.
Due to the tax code changes moving expenses are not deductible on a federal tax return, except for military permanent change of station, for tax year 2018 thru 2025.
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