We are an independent, advertising-supported comparison service. Our
goal is to help you make smarter financial decisions by providing you
with interactive tools and financial calculators, publishing original
and objective content, by enabling you to conduct research and compare
information for free - so that you can make financial decisions with
confidence.
Bankrate has partnerships with issuers including, but not limited to,
American Express, Bank of America, Capital One, Chase, Citi and
Discover.
How We Make Money.
The offers that appear on this site are from companies that compensate
us. This compensation may impact how and where products appear on this
site, including, for example, the order in which they may appear
within the listing categories. But this compensation does not
influence the information we publish, or the reviews that you see on
this site. We do not include the universe of companies or financial
offers that may be available to you.
At Bankrate we strive to help you make smarter financial decisions.
While we adhere to strict
,
this post may contain references to products from our partners.
Here’s an explanation for
Editorial Integrity
Bankrate follows a strict editorial policy, so you can trust that
we’re putting your interests first. Our award-winning editors and
reporters create honest and accurate content to help you make the
right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with
accurate and unbiased information, and we have editorial standards
in place to ensure that happens. Our editors and reporters
thoroughly fact-check editorial content to ensure the information
you’re reading is accurate. We maintain a firewall between our
advertisers and our editorial team. Our editorial team does not
receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader.
Our goal is to give you the best advice to help you make smart
personal finance decisions. We follow strict guidelines to ensure
that our editorial content is not influenced by advertisers. Our
editorial team receives no direct compensation from advertisers,
and our content is thoroughly fact-checked to ensure accuracy. So,
whether you’re reading an article or a review, you can trust that
you’re getting credible and dependable information.
How We Make Money
You have money questions. Bankrate has answers. Our experts have
been helping you master your money for over four decades. We
continually strive to provide consumers with the expert advice and
tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that
our content is honest and accurate. Our award-winning editors and
reporters create honest and accurate content to help you make the
right financial decisions. The content created by our editorial
staff is objective, factual, and not influenced by our
advertisers.
We’re transparent about how we are able to bring quality content,
competitive rates, and useful tools to you by explaining how we
make money.
Bankrate.com is an independent, advertising-supported publisher
and comparison service. We are compensated in exchange for
placement of sponsored products and, services, or by you clicking
on certain links posted on our site. Therefore, this compensation
may impact how, where and in what order products appear within
listing categories. Other factors, such as our own proprietary
website rules and whether a product is offered in your area or at
your self-selected credit score range can also impact how and
where products appear on this site. While we strive to provide a
wide range offers, Bankrate does not include information about
every financial or credit product or service.
Which bank should I choose?
Get personalized bank recommendations in 3 easy steps.
Dear Tax Talk,
I was a schoolteacher in Indianapolis last year. I got married, found a new job in Chicago and moved. Can I deduct moving expenses? — Sara
Your move is closely related to the start of work.
You meet the distance test.
You meet the time test.
Although you may have moved to Chicago thinking about marriage, the fact that you eventually began working in Chicago will allow you to deduct your moving expenses. It is not necessary that you arrange to work before moving to a new location, as long as you actually go to work in that location. Generally, the start of the new job has to happen within one year of the move.
Your move will meet the distance test if your new main job location is at least 50 miles farther from your former home than your old main job location was from your former home. For example, if your old main job location was 3 miles from your former home, your new main job location must be at least 53 miles from that former home. You can use work sheet 1 in Publication 521 to see if you meet this test.
If you are an employee, you must work full time for at least 39 weeks during the first 12 months after you arrive in the general area of your new job location.
As it sounds like you meet these tests, you can deduct your moving expenses from Indianapolis to Chicago. Use Form 3903 to claim moving expenses.
Ask the adviser
To ask a question on Tax Talk, go to the “Ask the Experts” page and select “Taxes” as the topic. Read more Tax Talk columns.
To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Taxpayers should seek professional advice based on their particular circumstances.
Share