I am buying a house for the first time and it is about a 30 min drive from my old city to the new city. Can I deduct the cost of my move?
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Hi mom2chris06, thank you for joining the "Ask the Experts: Moving" special forum today. I am happy to assist with your question.
Unless you’re active-duty military and were ordered to move as the result of a PCS (permanent change of station), you can deduct your out-of-pocket moving expenses to your new post, including travel and lodging (but not meals).
For everybody else, the moving expense deduction has been suspended for tax years 2018 through 2025 as a result of the Tax Cuts and Jobs Act that was signed into law in late December of 2017.
Prior to the suspension, full-time employees who worked at least 39 weeks during the first 12 months at their new job location could deduct moving expenses that were paid within one year of the date they first reported to work at their new workplace, provided the distance between their old home and new workplace was at least 50 miles further than it was from the old workplace.
Hope this helps.
Ok so even when it was enacted it was only if you were moving due to a new job or having to move due to job moving or promotion? Not just due to buying a house? Are the new homeowners deductions still able to be done?
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