Under 2001 tax legislation enacted in the United States, all income tax filers became eligible to deduct

Question:

Under 2001 tax legislation enacted in the United States, all income tax filers became eligible to deduct from their total income half of their expenses incurred when moving more than 50 miles to accept a new job. Prior to the change, only tax filers who itemized their deductions were allowed to deduct their moving expenses. (Typically, homeowners itemize their deductions and renters do not itemize.) How would this change in tax policy likely affect the mobility of homeowners and renters?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Labor Economics

ISBN: 9781260565522

8th Edition

Authors: George Borjas

Question Posted: