We moved an LLC home business near end-year and need guidance on how to allocate moving expenses between the LLC and personal moving expenses that are non-deductible.
The move cost about $20,000 between the business and personal expenses. Moved from Texas to Virginia and continue to operate home business in our new house in Virginia
01140
1 Replies
AliciaP1
Expert Alumni
Mar 9, 2023 10:23:14 AM
You could use a square footage allocation method based on the Texas home office size to get a percentage to apply to the total moving costs.
For example:
Square footage of home office in Texas = 150
Square footage of house in Texas = 2500
150/2500 = 6%
Calculate 6% of total moving cost as LLC business expense