In May 2017, Regina graduated from USC with a degree in accounting and moved to Portland to
Question:
In May 2017, Regina graduated from USC with a degree in accounting and moved to Portland to look for work. Shortly after arriving in Portland, she obtained work as a staff accountant in a local CPA firm. In her move to Portland, Regina 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 Portland.
$405 for a previous plane trip to Portland to look for an apartment.
$175 in temporary storage costs for her collection of crystal figurines.
How much, if any, may Regina take as a moving expense deduction on her 2017 tax return? Is that deduction subject to any conditions that could change its deductibility in the future?
Step by Step Answer:
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler