|
Discuss tax-related moving
expenses, liabilities, and deductions with your tax advisor. When you
meet the IRS's definition of a qualifying move, the following items
may be deductible:
-
The cost of trips to
the area of a new job to look for a home. Your home shopping
expedition does not have to be successful for the cost to be
deductible.
-
The cost of having
your furniture and other household items shipped, including the
cost of packing, insurance, and storage for up to 30 days.
-
The cost of getting
your family to the new home town, including food and lodging
expenses on the trip.
-
The cost of lodging
and 80% of food expenses for up to 30 days in a new home town, if
these temporary living expenses are necessary because you have not
yet found your ideal home or it is not ready when you arrive.
-
Certain costs
associated with the sale of your hold home and/or purchase of the
new one. These expenses - including real estate commissions, legal
fees, state transfer taxes, appraisal fees and title fees - could
be used either to reduce the gain on the sale of the previous home
or to boost the basis of the new one.
-
General
Information
-
From Sale To
Settlement
|
|
|