This is possible, but problematic in design. What if you delete it out of the first table and fail to append it to the next table? Or the other way round--cannot delete item, but can add it to the next table?
This is possible. The simplest (but ugliest) way to do this is to create two queries: one pulls data off of the textboxes on the first form and appends it to table #2. Another query deletes the item from table #1 where ID = ID currently displayed in the form. Run both queries at the click of your button (the order is important.)