Moving Expenses - What's Deductible and What's Not

Q. Which of my moving expenses are tax deductible?

A. Please refer to the list below:

Tax-deductible Moving Expenses

• The cost of packing and shipping your possessions, including insurance and up to 30 days of storage;
  
• The cost of traveling to your new home (once), including lodging but not meals
• Your actual driving costs, like gas and oil, or a standard allowance of 23.5 cents a mile for a 2014 move or 23 cents a mile for 2015 if you don’t want to bother with tracking actual expenses);
  
• The cost of disconnecting utilities at your old home and hookups at the new home.

Non-tax-deductible Moving Expenses

• Expenses incurred buying or selling a home or acquiring or breaking a lease
• Apartment security deposits
• Losses from selling or giving up club memberships
• Driver’s-license and car-registration fees
• In the past you could have deducted expenses incurred while you were out house hunting, but no more.
• If you get reimbursed for some or all of your moving expenses, don’t try to double dip. You’re not allowed to deduct moving costs if they are paid by your employer.