Question
The taxpayer was permanently transferred from Denver to New York City and incurred the following expenses: House-hunting trip (including $400 for meals) $1,000 Temporary living
The taxpayer was permanently transferred from Denver to New York City and incurred the following expenses:
House-hunting trip (including $400 for meals) $1,000
Temporary living expenses for 20 days
(including $500 for meals) 1,000
Travel expense during move
(including $300 for meals 1,000
Moving company's charges 4,000
Brokers fee on sale of home 4,000
$11,000
If the above move occurred this year, the deduction would be:
a. | Zero | |
b. | $4,700 | |
c. | $7,940 | |
d. | $5,000 | |
e. | None of the above |
If the above move occurred this year and the employer reimbursed the employee for all expenses:
a. |
The deductible portion of the expenses reimbursed is excludible.
| |
b. |
The entire reimbursement is excluded from income.
| |
c. |
The deductible portion of the expenses reimbursed is includible.
| |
d. |
None of the above
|
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