Question
Jane, this year moves 1,000 kilometers closer to her employment work place. She has the follwoing moving cost related to her move, as noted above.
Jane, this year moves 1,000 kilometers closer to her employment work place.
She has the follwoing moving cost related to her move, as noted above.
Her employment income after her move was $10,000
She wil apply the Simplied Method for Mileage (KM) and Meals claims.
Moving Cost: $2,000
Mileage: Kilometer driven by her personal automobile: 1,000 km.
Days to drive to her new home: 3 days.
Please choose the most accurate answer related to her moving expense deduction this year?
An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,000 | ||
An employee must move a minimum of 50 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,757 | ||
An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,757 | ||
An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,838 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started