Moving expense - no longer deductible

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tampaite
Posts: 576
Joined: Wed Feb 18, 2015 9:29 pm

Moving expense - no longer deductible

Post by tampaite » Thu Mar 21, 2019 2:29 pm

Deleting my messages on this forum
Last edited by tampaite on Mon Jun 03, 2019 7:42 am, edited 1 time in total.

jebmke
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Joined: Thu Apr 05, 2007 2:44 pm

Re: Moving expense - no longer deductible

Post by jebmke » Thu Mar 21, 2019 2:31 pm

The whole section of miscellaneous expenses (line 21-27 of the old 1040) was eliminated in the tax bill.
When you discover that you are riding a dead horse, the best strategy is to dismount.

FederalFIRE
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Joined: Thu Jan 17, 2019 11:40 am

Re: Moving expense - no longer deductible

Post by FederalFIRE » Thu Mar 21, 2019 2:34 pm

tampaite wrote:
Thu Mar 21, 2019 2:29 pm
Is this a bug in TurboTax(TT) or a result of the tax cuts?

Am no longer able to deduct moving expense - looks like that option is only for military families - atleast, as per TT.

Where can i find a list of tax deductions that were eliminated at a high level? similar to a checklist.
Unfortunately this is all taxable now. Here's a link: https://www.fidelity.com/viewpoints/per ... deductions

Kennedy
Posts: 369
Joined: Mon Nov 10, 2014 2:47 pm

Re: Moving expense - no longer deductible

Post by Kennedy » Thu Mar 21, 2019 2:57 pm

FederalFIRE wrote:
Thu Mar 21, 2019 2:34 pm
tampaite wrote:
Thu Mar 21, 2019 2:29 pm
Is this a bug in TurboTax(TT) or a result of the tax cuts?

Am no longer able to deduct moving expense - looks like that option is only for military families - atleast, as per TT.

Where can i find a list of tax deductions that were eliminated at a high level? similar to a checklist.
Unfortunately this is all taxable now. Here's a link: https://www.fidelity.com/viewpoints/per ... deductions
Fortunately, there is a big increase in the standard deduction.

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CAsage
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Re: Moving expense - no longer deductible

Post by CAsage » Thu Mar 21, 2019 3:58 pm

Kennedy wrote:
Thu Mar 21, 2019 2:57 pm

Fortunately, there is a big increase in the standard deduction.
Which is more than offset by losing exemptions. Some people came out good, some did not.
Salvia Clevelandii "Winifred Gilman" my favorite. YMMV; not a professional advisor.

Topic Author
tampaite
Posts: 576
Joined: Wed Feb 18, 2015 9:29 pm

Re: Moving expense - no longer deductible

Post by tampaite » Fri Mar 22, 2019 6:30 am

Deleting my messages on this forum
Last edited by tampaite on Mon Jun 03, 2019 7:41 am, edited 1 time in total.

Nowizard
Posts: 2420
Joined: Tue Oct 23, 2007 5:33 pm

Re: Moving expense - no longer deductible

Post by Nowizard » Fri Mar 22, 2019 10:46 am

We will be moving soon and purchasing another house but have not had time to research all potential issues. One is whether some/all moving expenses can be claimed as part of the sale of our existing home, reducing cost basis. It will not make a difference for us tax wise due to not having sufficient profit to trigger taxes, but it could be an issue for others.

Tim

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