Tax Deductions You Might Be Getting Wrong

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tax deductions 2020

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Trying to deduct moving expenses

Most states no longer allow you to deduct moving expenses, even if you move for a job. This might sound like a recent, post-pandemic rule, since so many workers have moved to remote telecommuting. But in fact, this new rule came before the pandemic work-from-home craze. Some states didn’t conform to the new rule, and military personnel are exempt. But, in all likelihood, if you paid a pretty penny for a U-haul rental, movers, packing tape, and shipping expenses to work in a new city, you just have to eat those costs.

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