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New Member
posted Jul 28, 2021 11:38:52 AM

Moving to a new state

My company is moving to CT in October, I will be purchasing a home in CT in September to be closer to my employer. My current state of residence

is NY. Is there any tax benefits for me doing this move?

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1 Replies
Expert Alumni
Jul 28, 2021 11:44:12 AM

Unfortunately, under the tax reforms of 2017, moving expenses are not deductible except for military personnel moving under orders. If you own a home in New York, are selling for a gain, and have not met the 2  year requirement for excluding gain from income, you may be qualified for a partial exclusion based upon the move. But personal moving expenses are not deductible, regardless of the reason for the move.