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QUESTION DETAIL
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I am an independent contractor and am moving out of state next year. I currently live in Texas. Can I deduct my moving expenses?
ANSWER
The BIDaWIZ Team's Answer:
Yes you can deduct moving expenses if the move is related to starting work, in a new location [IRC 217]. The deduction is computed on Form 3903 of your Form 1040. To be eligible, you must satisfy the:
1) Distance test - your new workplace must be at least 50 miles farther from your old home than your old job location was from your old home
2) The length of employment test - If you are self-employed, you must work full time for at least 39 weeks during the first 12 months and for a total of at least 78 weeks during the first 24 months immediately following your arrival in the general area of your new work location
