Moving Expenses
$7.97
Learn about the eligibility and limitations for deducting moving expenses, specifically for active-duty military personnel moving under orders. This guide details the criteria for deductible expenses, including transportation, lodging, and storage costs, and explains the current suspension of the deduction for most taxpayers through 2025. Essential for military members and their families, this guide helps navigate the tax treatment of moving expenses.
Highlights:
• Eligibility: Deduction available only to active-duty servicemembers moving under military orders.
• Deductible Expenses: Includes transportation and storage of household goods, and travel expenses for moving.
• Exclusions: Meals, pre-move househunting trips, and expenses related to buying or selling a home are not deductible.
• Form 3903: Required for reporting deductible moving expenses and reimbursements on your tax return.
• Special Circumstances: Rules for foreign moves and moves due to death, imprisonment, or desertion of a servicemember.
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