Ideally, it's a separate structure from the living quarters of the house. A qualifying home office is a part of the home that is used "exclusively and regularly" as the principal place of business. Instead of itemizing, you can opt for taking a standard deduction of $5 per square foot of home office space, up to 300 square feet.Īgain, the IRS is a stickler on this one. Utilities (electricity, heat, water, gas, internet service, telephone service, etc.).If you're self-employed and work from home, then you only had to move 50 miles away, which can be as close as the neighboring city or town. So if you used to drive 30 miles (48 kilometers) to work, the new location had to be at least 80 miles (129 kilometers) from your old home. First, the distance test: If you moved for a new job - or even to find a new job - the new location must have been at least 50 miles (80 kilometers) farther than the distance of your old commute. If you are able to amend a past income tax return from 2017 or earlier, note that the IRS applied two basic "tests" to determine if you could deduct moving expenses: distance and time. See the Instructions for Form 3903 for more information. Armed Forces can still deduct unreimbursed moving expenses from both domestic and foreign moves. If you are able to amend a past return from 2017 or earlier, you could still take the deduction for qualified moving expenses.Īlso, active duty members of the U.S. But that only applies to tax years 2018 and beyond. The 2017 Tax Cuts and Jobs Act essentially eliminated moving expenses for most federal income tax filers. The IRS uses time and distance to determine who qualifies for the moving expense deduction.
0 Comments
Leave a Reply. |