Iowa’s taxation of married couples has quirks that can throw a taxpayer or tax preparer for a loop. This post will look at allocating moving expenses, student loan interest, and deductions relating to a dependent.
In this final part of this series I want to talk about what happens if a taxpayer took a deduction for moving expenses and then no longer meets the requirements for taking the deduction.
In part 1, we discussed the rules for qualifying to take a deduction for moving expenses. In this part, we’ll go into what’s deductible, and how to deal with employer reimbursements.
Questions about moving expenses and whether those expenses can be deducted comes up periodically with my clients. Here’s a basic overview.