Q: My husband and I have both just taken new jobs. We believe that every penny counts in today’s economic times and we are trying to weigh all the costs and savings related to buying a new home closer to our new jobs. We understand that we can deduct some of the expenses associated with buying our new home and we are factoring those savings into the “plus” side of buying. I’m wondering if we can claim anything for the move. A tax savings might be just the thing to help us decide to buy.

A: Your moving costs may be tax deductible. Even if you don’t itemize your personal tax deductions, your moving costs might produce a deduction saving you a considerable amount. Either you or your spouse can qualify. There are two components to qualifying for this deduction which is actually an “adjustment” (subtraction) from your gross taxable income rather than an itemized deduction.

First, you must have changed your job location. It does not matter if you changed employers, stayed with the same employer or became self-employed. Your new job site must be at least 50 miles further from your old home than your old job location.

If the distance from your old home to your old job location was 10 miles and the distance from your old home to your new job site is at least 60 miles (10 plus 50), you have passed the first part of the test to deduct your residential moving expenses. The distance from your new home to your new job location does not matter.

The second part of the test requires you to work a specific number of weeks in the vicinity of your new job. It’s all right if you change jobs, location and employer but your work must be 50 miles from your old home. If you are an employee, you must work full time in the vicinity of your new job location for at least 39 weeks during the 52 weeks after the move. To prevent frequent tax-deductible moves, such as moving to sunny Florida in the winter and cool Vermont in the summer, part-time employment does not count.

If you were self-employed, you would have had a tougher test. You would have been required to work at least 78 weeks full time in the vicinity of your new job location during the 104 weeks after the move. The purpose of this rule is to prevent students and hobbyists from deducting their moving expenses. The work-time tests are waived for disability, job layoffs or the taxpayer’s death.

If you don’t meet the work-time test by April 15 when your income tax returns are due but you do meet the 50-mile additional job distance test, you have a choice. You can either claim the moving cost deduction on your return or you can later amend your return when you meet the time test. Most eligible taxpayers claim their moving cost deduction and later amend their tax returns if the unexpected happens and they don’t meet the time test. Consider seeking the advice of a tax professional before making a final decision.

Attorney Sylvia Heldreth is a Certified Specialist in Real Estate Law. Her office is located at 1215 Miramar Street in Cape Coral.

This article is not intended a specific legal advice to anyone and is based upon facts that change from time to time. Individuals should seek legal counsel before acting upon any matter involving the law.