top of page

Adjustments to Gross Income

Updated: Apr 14, 2020

Do you contribute to an individual retirement account (IRA) or Health Savings Account (HSA)? These and most other deductions you can take whether you itemize or take the standard deduction haven’t changed (although there’ve been some adjustments to the numbers for inflation).

But the moving expense deduction that also was above the line is gone unless you are active-duty military moving as the result of military orders. If you relocate for a job or for your business, you can’t deduct the cost of moving your household. What's more, if your employer reimburses you for moving costs starting in 2018, you’re going to be taxed on this.

6 views0 comments

Recent Posts

See All
bottom of page