Amplify Your Income Tax Refund: Deduct Moving Expenses

Income Tax Refund

April 14th is just around the corner! If you moved over the past year, you can save some money by adding a few additional lines to your tax return. The moving expenses deduction process is simple and will easily put a few dollars back into your pocket.

If you used uShip to move anything over the past year for the purposes of relocating for a new job, you can deduct it! This even includes pet and auto transport.

If you moved in 2012, there are only a few requirements to meet.

What you can deduct: 

  • Transportation, moving, and storage costs associated with moving your household goods and personal effects.
  • Any travel expenses associated with your move (like Holiday Inn, KOA Campground costs, etc.)
  • Cost of connecting or disconnecting utilities
  • Auto transport expenses
  • Cost of shipping your pet (safely and securely)
  • Cost of moving your household goods from a place other than your former home (like a storage unit or grandma’s garage in another state). This amount can’t exceed what it would cost to move it from your former home.

Requirements for Deducting Moving Expenses: 

  • Your move must be job-related (you can’t deduct if you’re already retired).
  • Your new job would have increased your commute by more than 50 miles.
  • You must remain a full-time employee for a minimum of 39 weeks during the 12 months after your move. If you’re self-employed, the figures are 78 weeks and 24 months, respectively.
  • Your moving expenses can’t be reimbursed by your employer.

Read the following information directly from the IRS to clear up any questions you might have about what counts for a deduction and what does not.

To start deducting your move from your 2013 taxes now, just fill out the short Form 3903 and enter the end deduction on line 26 on your 1040.

Keep in mind: We are not tax professionals here. Should you have any other questions, consult a tax professional.

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