Upon losing his job as a plant manager in Quincy, Massachusetts, Anthony incurs $6,200 in job search

Question:

Upon losing his job as a plant manager in Quincy, Massachusetts, Anthony incurs $6,200 in job search expenses. Having no success in finding new employment in the same type of work, Anthony moves to Clearwater, Florida, in 2014 and begins a charter boat business. His expenses in connection with the move are summarized below.

Penalty for breaking lease on Quincy rented residence ........ $2,800

Forfeiture of membership in Quincy Country Club .......... 2,200

Packing and moving van charges ................. 7,100

Lodging during move (3 nights) ................ 380

Meals during move ..................... 360

Mileage (total for two automobiles) ............... 2,400 miles

How much of these expenses may Anthony deduct?

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

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: