Moving expense

Moving expense is deductible from your federal income tax if you moved more than 50 miles from a previous place of residence to take full time employment.

Expanded Definition

The deduction is an adjustment to gross income entered on the first page of Form 1040 and does not require that you itemize deductions. You must file Form 3903 to claim the deduction.

Related Fool Articles

Related Terms

Recent Mentions on Fool.com

• Are the Earnings at Lifepoint Hospitals Hiding Something?
• Don't Get Too Worked Up Over Teledyne Technologies's Earnings
• Here's How Viacom Is Making You So Much Cash
• CAPScall of the Week: Tilly's
• Don't Get Too Worked Up Over UNS Energy's Earnings
• Don't Get Too Worked Up Over H&E Equipment Services's Earnings