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Deducting Moving Expenses

return is due if you expect to meet the 39-week or the 78-week test as required. Members of the armed forces do not have to meet these tests if the move was due to a permanent change of station. Reasonable moving expenses are deductible...

What expenses cannot be deducted as "moving expenses"?

except those incurred in transit and for foreign moves. No double deduction: You cannot take a moving expense deduction and a business expense deduction for the same expenses. You must decide if your expenses are deductible as moving expenses...

Examples of other deductible expenses

Examples of other Deductible Expenses: Archer MSA deduction (see Form 8853 ). Jury duty pay if you gave the pay to your employer because your employer paid your salary while you served on the jury. Deductible expenses related to income...

What expenses can I deduct as "moving expenses"?

household from your former home to your new home. For purposes of moving expenses, the term “personal effects” includes, but is not limited to, movable personal property that the taxpayer owns and frequently uses. You can deduct any costs...

What "Closing Costs" Can I Deduct When Purchasing a Home?

Congratulations on the purchase of your new home! When you purchased your home, you may have paid what is called "settlement" or "closing costs" in addition to the contract price. These costs are typically divided between you...

Entertainment Expenses that are Tax Deductible

The IRS allows you to include certain business entertainment expenses on your tax returns each year. Expenses are treated differently depending on the type of entertainment. There are also firm guidelines you must follow for the expense to be allowable. The expense has ...

Who can deduct Moving Expenses?

If you moved due to a change in your job or business because you started a new job, you may be able to deduct your moving expenses. To qualify for the moving expense deduction, you must satisfy three tests. Under the first test, your move...

Wisconsin Addition to Income - Amounts Not Deductible for Wisconsin

activity loss on your federal return for losses incurred when you were a resident of another state. The passive activity losses were not allocable to Wisconsin. The passive activity losses are not deductible for Wisconsin and must be included...

I'm in the military. Do I qualify to deduct moving expenses?

If you are a member of the Armed Forces on active duty and you move because of a permanent change of station, you do not have to meet the distance and time tests. You can deduct your unreimbursed moving expenses. A permanent change...

Illinois NonResident and Part Year Deductible Self-employment Tax

Use the following worksheet to determine the Illinois portion of the deductible self-employment tax: Step 1 / = Illinois portion of self-employment income Total self-employment Income reported on Federal return Illinois self-employment...