IRS Deductions for Moving
If you moved for reasons directly related to your job, you may be able to deduct your moving expenses on your taxes. This is an "above-the-line" deduction, meaning you can claim it and still take the standard deduction.
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Mileage Expenses
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You can deduct some moving expenses if your relocation was job-related. You can deduct the mileage for driving from your old home to your new home at the annual rate. This rate varies and is set by the IRS each year. For 2011, the mileage rate for moving purposes is 19 cents per mile. You can also deduct any tolls you paid along the way.
Other Expenses
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You can deduct expenses for packing and shipping your personal belongings. If you had to put your belongings in storage, you can deduct up to 30 days of those costs.
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Unreimbursed Expenses
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Whether you can claim a deduction for unreimbursed expenses depends on whether your employer reimburses any of those expenses. If not, you should claim this deduction in the year that you incurred the moving expenses.
Reimbursed Expenses
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If you will be reimbursed for some of your moving expenses, you can choose to deduct those expenses when you incur them or when you are reimbursed. If you claim the deduction in one year and you are reimbursed in another, you must include the reimbursement in your taxable income.
Eligibility
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To qualify for this tax deduction, your new job must be at least 50 miles from your old home and your new home must be closer to your new job than your old home. In addition, you must work at least 39 weeks in the first year you are in your new home.
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