Helpful Tips for Home Sellers

November 27, 2012

Keep detailed records of all moving expenses if your move is job related. Many expenses, including house-hunting trips, are tax deductible. If you move 35 miles or more from your home, you can deduct your family’s travel expenses, such as meals and lodging; moving costs of your furniture and household goods; food and hotel bills for up to 30 days if you have to wait to move into your new home; and the costs related to selling your home. There is a ceiling on deduction. Please see IRS’ Publication 521 for detail.

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