2940803
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

BusinessMoves
Returning Member

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
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AliciaP1
Expert Alumni

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.

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
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question