Question: In May 2016, Antonio graduated from UCLA with a degree in accounting and moved to Denver to look for work. Shortly after arriving in Denver,

In May 2016, Antonio graduated from UCLA with a degree in accounting and moved to Denver to look for work. Shortly after arriving in Denver, he obtained work as a staff accountant in a local CPA firm. In his move to Denver, Antonio incurred the following costs:
$275 in gasoline.
$250 for renting a truck from UPAYME rentals.
$100 for a tow trailer for his car.
$85 in food.
$25 in double espressos from Starbucks.
$300 for motel lodging on the way to Denver.
$405 for a previous plane trip to Denver to look for an apartment.
$175 in temporary storage costs for his collection of baseball memorabilia.
How much, if any, may Antonio take as a moving expense deduction on his 2016 tax return? Is that deduction subject to any conditions that could change its deductibility in the future?

Step by Step Solution

3.42 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Antonio can deduct the following moving expenses for a ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1234-L-B-L-I-T-E(3272).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!