Can moving ever be tax deductible?

Asked by Trulia Las Vegas, Las Vegas, NV Tue Feb 5, 2013

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Deluxe Realty’s answer
Deluxe Realty, Agent, Las Vegas, NV
Tue Feb 5, 2013
Yes, there are definitely many tax benefits available in regards to moving!

It is recommended that you do speak with a CPA.

With that said, here are some tax benefits that may be applicable to you when moving:

If you are selling your home to purchase a new home, make sure to use a 1031 Tax-Free Exchange, here's more info:…

If you are currently upside down on your current home's mortgage, and you qualify for a short sale, then the Mortgage Forgiveness Debt Relief Act has been extended through 2013, which means you can now short sell your home, your forgiven debt will not be taxed, and there are lenders that will immediately qualify you for a new mortgage as long as you meet all other criteria, and you can purchase a home at fair market:…

Deductions for mortgage insurance premiums are also extended, as well as for state and local property taxes, which, along with the mortgage interest deduction, are important tax considerations for home owners and buyers.

Also, it's not necessary a deductible, put if you sell your existing home and move into a new home at a lower price point, you're likely to see lower property taxes. Search for available homes in Las Vegas here; a beautiful, easy-to-use, Free, and it's connected live to our local MLS:

Also, for 2012 and 2013 you can receive Federal Tax Credits for Consumer Energy Efficiency, especially if you are updating your stove, HVAC, Insulation, Roof, Water Heater, Windows and Doors, Geothermal Heat Pumps, Small Wind Turbines, Solar Energy Systems, or Fuel Cells, learn more:…

And further, if you are moving to Nevada from another state, remember that we don't have state income tax! So moving to Nevada (especially Las Vegas, because it's awesome here), you'll find unbeatable prices on gorgeous homes, some of the lowest property taxes in the nation, no income tax, and a state that has no debt only positive cash flow.

Please, contact me today for a Free Consultation on your home sale and/or purchase.

Ask us about current inventory of New Energy Efficient Homes that match all the Tax Credits, as they are a hot commodity today, especially the Energy Efficient Summerlin homes for sale.


Mark Fleysher, MBA, and Team
Sellstate Deluxe Realty
0 votes
Chuck Campbe…, Agent, Gallatin, TN
Tue Feb 5, 2013
These situations can get very convoluted. It would be best to contact your accountant or a tax adviser. I know sometimes we want to jump on turbo tax and just go to town but if you have ever been through an audit, you will definitely want your back covered. Hope this helps.
0 votes
John L Gross…, Agent, Roslyn, NY
Tue Feb 5, 2013
If its job related, yes [under most circumstances].
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Tue Feb 5, 2013
Yes, but since I am a Realtor and not a tax adviser I suggest people ask their tax adviser not us.
0 votes
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