9 Events When Your Taxes Drastically Change

What happens to your taxes when you move

Until the 2018 tax year, if your move was related to starting a new job, and you met IRS requirements for distance and working time, you could deduct your moving expenses on your taxes. However, the federal deduction for moving expenses is suspended for tax years 2018 to 2025 except for active-duty military personnel who move due to military orders. Regardless of whether you qualify for deductions, if you move to a new state, you must file part-year tax returns in each state.

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2 thoughts on “9 Events When Your Taxes Drastically Change”

  1. Just a quick question if a person has not worked for a year and she has no medical insurance does she have to pay the fee at tax time because she does not have a job

    1. It depends on your household income and the plan year. For 2018 plans and earlier, if insurance is unaffordable to you based on your income, you may qualify for an exemption from the fee. Other exemptions are based on low income too.

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