Are you one of the more than 20 million renters and homeowners who changed residences in 2003? If you did, your moving costs may be tax deductible. To qualify, however, you also must have changed your job location. However, it doesn't matter if you changed employers, stayed with the same employer, or became self-employed. Purchase Bob Bruss reports online. Even if you don't itemize your personal tax deductions, your moving costs might produce a deduction saving you hundreds, or even thousands, of tax dollars. The reason is the moving cost tax deduction is an "adjustment" subtraction from your gross taxable income rather than an itemized deduction. DID YOUR JOB LOCATION CHANGE IN 2003? The first and most important moving cost job location change test requires your new job site to be at least 50 miles further from your old home than was your old job location. But the distance from your new job location to your new residence doesn't matter. To illustrate, suppose the drive from yo...
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