Question
Caden, a financial planner, decides to quit his job with an investment bank in Charleston, South Carolina, and establish a private practice in Santa Fe,
Caden, a financial planner, decides to quit his job with an investment bank in Charleston, South Carolina, and establish a private practice in Santa Fe, New Mexico. In connection with the move, he incurs the following expenses: Moving van charge $4,500 Lodging during move 540 Meals during move 410 Loss on sale of residence in Charleston 9,000 Mileage for personal autos 3,500 miles How much of these expenses, if any, can Caden deduct?
Addition information:
1. Cadens old home and old job were in Charleston, South Carolina.
2. Caden satisfies the time test.
3. Caden chooses the automatic mileage method for transportation expenses.]
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