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FINANCIAL SIDE OF MOVING
-> Tax deductions
Mar 22, 20:05
Question by metz1055 (Max)


Tax deduction for my moving expenses

Moving from one state (NY) to another state (NC) can I claim moving expense on my 2007 tax? This move is not a job transfer, just a relocation. Thank you

Mar 22, 20:43
Answer by julie (Julie Owens)

Max,

Your move doesn't have to be related to a job transfer. However, you will only be able to claim those expenses if your move is closely related to the start of your new job.

To answer your question I need to know if you or your spouse are planning to look for a new job. If one of you will start working as a full-time employee within 13 weeks of your move then your would probably be able to claim the moving expenses on your 2007 tax form.

I recommend you to check the following thread, it explains in details how one can claim his or her moving expenses: Deducting moving expenses from personal taxes.

In any case I would recommend you to consult with an accountant, who will be able to analyse your particular case, and I certaintly urge you to save all the paperwork and receipts you will get from the movers, as well as your lodging receipts in case you plan to drive to North Carolina and stay in a motel.



Good luck with your move,

Julie Owens @ MovingAnswers.org


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Mar 23, 11:33
Comment by metz1055 (Max)

Yes, I will start looking once I am there.

Thank you
Max


Mar 23, 11:50
Comment by julie (Julie Owens)

Thats great,

In that case you need to find a new job within the 3 months after you move to the new location, and keep being employed for 9 month during the year following the move.

Then you will be able to claim your moving expenses on your 2007 tax return.


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