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

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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 2015 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 (for two automobiles) ......................................................2,400 miles

How much of these expenses may Anthony deduct?

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South Western Federal Taxation 2016 Comprehensive

ISBN: 9781305395114

39th Edition

Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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