Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mateo Correa lived and worked in Florida until April 1 8 , 2 0 2 3 . At the beginning of April, Mateo accepted a

Mateo Correa lived and worked in Florida until April 18,2023. At the beginning of April, Mateo accepted a job in Los Angeles, California, where he bought a home and moved in on April 19,2023. His moving expenses totaled $1,300. He changed his bank account to a local bank and registered to vote in California. Which of the following statements is TRUE?
Mateo will file a part-year California return and will not be allowed to deduct the moving expenses. He would only be able to deduct his expenses if he moved out of California.
Mateo will file a part-year return and cannot deduct the moving expenses on his California part-year return because it does not conform to the federal treatment of moving expenses.
Because Mateo moved into California, he will be able to deduct his moving expenses. He will show his expenses on Schedule CA (540NR).
Because California conforms to the federal treatment of moving expenses, Mateo does not have to make an adjustment on his return.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comparative International Accounting

Authors: Christopher Nobes, R. H. Parker

7th Edition

0273655833, 9780273655831

More Books

Students also viewed these Accounting questions