Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Moving Expenses Date: 3/1/2008 5:00 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I am relocating from Detroit to Atlanta this summer for a change of jobs. I have been reading up on the moving deduction expense and I have some questions for you out there:

I know that I can't deduct expenses for a pre-move house hunting trip but I am planning on renting and driving a truck down to Atlanta in April in advance of the move. Can I deduct any of the following:

Rental truck costs
Gas/mileage costs


Yes to both. Keep track of your actual expenses. When a friend moved this way the actual expense was a lot more than the mileage.

Return flight costs

See discussion at the end.

Storage costs

You are limited to the cost incurred within 30 consecutive calendar days.

Also when I make the move my wife and I will both be changing jobs. We are going to both need to drive our current cars down there. Can we deduct the mileage for the trip for both cars? Does this still apply if we move at separate times (she moves June 1, I move July 1)?

You can deduct the cost of both cars.

I'm not sure about your flight home. This situation isn't covered in IRS Publication 521. (All the other questions are.) Maybe one of the pros has some insight.

A general concept is that the expenses must be "reasonable." My initial reaction to the truck/plane/car plan was "Why not tow the car when you move?" Then I went back and looked at your timetable and found myself totally befuddled. You're clearing out the house in April, but not moving (completely) until July. Aside from the nondeductible storage costs you're going to incur, it makes me wonder where you're going to live from April to July. It starts to look to someone without your insight like you're trying to deduct at least the travel part of a househunting trip.

Phil
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement