Question

Who can deduct moving expenses?

a. active military

b. people moving out of state

c. People moving to a better job

d. people moving to go to college

Answer 1

The correct answer is Option 'a' After the amendments in the Tax Laws, from 2018 only active military person can deduct moving expenses.

Earlier, moving expenses were deductible if quailified, where person incurs some expenses when changing employment and moving to next place. However, with reforms in tax laws from 2018, moving expenses are only deductible for active military cases and families/