MN2V Posted March 22, 2012 Report Posted March 22, 2012 Can closing costs on a home which were included on W-2 be deducted as moving expense? Distance and time tests were met. Quote
Lion EA Posted March 22, 2012 Report Posted March 22, 2012 No, just moving your family and household goods. Some closing costs add to the basis of the home. 1 Quote
Pacun Posted March 22, 2012 Report Posted March 22, 2012 Remember that moving expenses are ONLY applicable if you move because your job required you to move. Quote
Hahn1040 Posted March 22, 2012 Report Posted March 22, 2012 That is why they are added to the W-2- because they are not deductible. The moving truck (moving your household goods) and the airfare or mileage (getting you and your family) don't have to be added to wages because they would be deductible. But the things that are not deductible: closing costs, temporary living, house hunting trips, etc. must be added to income. Ironically transporting your family pet is deductible- I always wonder if Rover is considered part of transporting your household goods or part of transporting your family. :) Quote
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