Announcement

Collapse
No announcement yet.

Moving expense question

Collapse
X
 
  • Time
  • Show
Clear All
new posts

  • Moving expense question

    Recently finished residency (June 2017) and moved multiple states away to do a one year fellowship, and following this I plan on staying in the fellowship city once the fellowship ends June 30 , 2018

    For the upcoming tax (April), I plan on deducting the moving truck/gas/expense for the move to new city for fellowship

    Am I able to also deduct the license/registration fees for new car registration / plates / etc?

    Any other moving expenses that I need to be thinking about as I transition to attending-hood.

  • #2
    Moving expense deductions might be eliminated under the new tax plan, so I would wait a few weeks...

    Comment


    • #3
      I'm confused by your information. To deduct moving expenses, the distance between your new job and your former home must be at least 50 miles farther than your previous employer is from that home. You are staying in the same city - or did you move for your fellowship?
      My passion is protecting clients and others from predatory and ignorant advisors 270-247-6087 for CPA clients (we are Flat Fee for both CPA & Fee-Only Financial Planning)
      Johanna Fox, CPA, CFP is affiliated with Wrenne Financial for financial planning clients

      Comment


      • #4
        Updated original post for more information. I moved multiple states for fellowship, but plan on staying in my new city for attending job. Trying to figure out if expenses of updating car registration can be included in moving expenses, or if it specifically relates only to the moving truck, etc for the move.

        Comment


        • #5
          I've never taken the new reg as a writeoff cause it's a normal course of yearly expenses expected just earlier on the move.  I may have left something on the table but safer than pissed IRS.

          Comment


          • #6
            WCICON24 EarlyBird




            Updated original post for more information. I moved multiple states for fellowship, but plan on staying in my new city for attending job. Trying to figure out if expenses of updating car registration can be included in moving expenses, or if it specifically relates only to the moving truck, etc for the move.
            Click to expand...


            No, the expenses of settling in a new location would not be deductible, only the direct costs of your move.
            My passion is protecting clients and others from predatory and ignorant advisors 270-247-6087 for CPA clients (we are Flat Fee for both CPA & Fee-Only Financial Planning)
            Johanna Fox, CPA, CFP is affiliated with Wrenne Financial for financial planning clients

            Comment

            Working...
            X
            😀
            🥰
            🤢
            😎
            😡
            👍
            👎