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Article: Moving Expenses Face New Tax Hurdles
- Article from:
- Chicago Sun-Times
- Article date:
- January 16, 1994
- Author:
CopyrightCopyright 1994 Chicago Sun-Times. (Hide copyright information)
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Moving day just got a whole lot more expensive.
Significant changes to the federal government's rules on tax
deductions for moving expenses took effect Jan. 1. Certain house
hunting and temporary living expenses are no longer deductible.
The changes include:
An increase in the mileage test, from 35 to 50 miles. Your new
principal place of work must be at least 50 miles farther from your
former residence than your former residence was from your old place
of work.
For example, if you lived 2 miles from where you used to work,
your new office must be at least 52 miles from your old residence, no
matter where you now live.
The test does not apply to the number of miles between ...