How Do I Claim Moving Expenses On My Tax Return?

If you have moved and incurred expenses you may be able to claim the amount on your tax return. There are some stipulations that you must meet in order to place them on your 1040 itemized return. If your move was a requirement for a job, and it is further away than your previous position you have a good chance of reducing your income taxes.

Job Requirement

Moving expenses that are due to a job requirement or position is one of the first requirements for getting a credit on your tax return. It can be due to an employer or even customers if you are self-employed. If you moved of your own accord then it does not meet the government standards for moving expenses.

Full time Employment

Another rule for claiming your moving expenses on your tax return is that you must be employed full time. If you work for an employer the minimum number of weeks you must work is 39. If you are self-employed then you will need to work 78 weeks within the next 24 months to get credit on your tax return.

Going the Distance

Distance away from your job plays an important role in qualifying for credit. There is a stipulation that your new residence must be at least fifty miles further than your current home. If the mileage is less than this you cannot file the claim.

Employer Contribution

If your employer provided you with money to help facilitate your move then this must be deducted from your total expenses. If after this deduction you still incurred moving expenses you can use this amount on your tax return. It can only be placed on form 1040 as an itemized deduction.

Moving expenses can be costly. In order to recoup any expenses that you have incurred on your tax return they must be over and above any employer contribution, at least fifty miles further than your previous residence, work full time, and be a necessary requirement for your job. If all of these have been met then you can claim a deduction.

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