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Moving Expenses

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Moving Expenses

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You will find the moving expense is entered in the program under the ADJUSTMENTS tab.  The program will then generate the form 3903 for you as part of your tax return.

Moving expense deduction suspended, except for certain Armed Forces members. Beginning in 2018, as part of a provision contained in the Tax Cuts and Jobs Act of 2017, the moving expense deduction for tax years after December 31, 2017, and before January 1, 2026, is temporarily suspended, except if you are a member of the Armed Forces on active duty and, due to a military order, you move because of a permanent change of station. Standard mileage rate.

**For 2021, the standard mileage rate for using your vehicle to move to a new home is 16 cents a mile.

Use Form 3903 to figure your moving expense deduction if you are a member of the Armed Forces on active duty and, due to a military order, you move because of a permanent change of station. A permanent change of station includes: A move from your home to your first post of active duty, A move from one permanent post of duty to another, and A move from your last post of duty to your home or to a nearer point in the United States. The move must occur within 1 year of ending your active duty or within the period allowed under the Joint Travel Regulations. If you qualify to deduct expenses for more than one move, use a separate Form 3903 for each move.

For more information, go to www.IRS.gov and search for form 3903

 

 


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Views: 3433 Created on: Jun 15, 2013
Date updated: Dec 01, 2021

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