Moving across country is an expensive proposition. If you’re moving to accept a new job or as part of a job transfer, however, there may be some good news on the horizon. In many cases, the IRS will let you declare a tax deduction for using a car shipping company to transport your car to your new home. Take a look at how it works.
If you use a car transport company ships your car, you may qualify for a tax deduction if you meet the requirements laid out by the IRS, sometimes known as the “distance and time test.” Look them over and see if you can check them all off.
You have to have the right answers to all these questions, not just one of them, to qualify for the tax deduction. Use IRS Form 3903, the Moving Expenses form, to file for your deduction.
If you use a car transport company to ship one or more cars, but you still drive to your new home, don’t forget to deduct the mileage as a moving expense.
Other tax deductions you should be taking for your car include:
Having a car transport company ship your car as part of your cross-country move can make the entire process so much simpler. You don’t have to wear yourself out with a drive of hundreds or even thousands of miles, and you know your car is being well cared for while you focus on all the other issues involved with moving.
When you’re getting ready for a major move, give us a call to see how we can help you. We’re known for great service and honest pricing, and we’ll treat your car as if it were our own. Call us for a free, no-obligation quote today.