Why don't I get all of my moving expenses back

robbslaw · ‎June 3, 2019

I itemize and have 12,000 in moving costs (east coast to west coast move) why am I not getting all of it back?

bwa · ‎June 3, 2019

To get it all back the Government would be paying for your move. They're not going to do that.

Moving expenses are a deduction not a credit. A deduction reduces the amount subject to tax and can make you owe less or increase your refund, but it's not a $1 for $1 credit.

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bwa · ‎June 3, 2019

To get it all back the Government would be paying for your move. They're not going to do that.

Moving expenses are a deduction not a credit. A deduction reduces the amount subject to tax and can make you owe less or increase your refund, but it's not a $1 for $1 credit.