Upon losing his job as a plant manager in Quincy (Massachusetts), Anthony incurs $6,200 in job search
Question:
Upon losing his job as a plant manager in Quincy (Massachusetts), Anthony incurs $6,200 in job search expenses. Having no success in finding new employment in the same type of work, Anthony moves to Clearwater (Florida) in 2014 and begins a charter boat business. His expenses in connection with the move are summarized below.
Penalty for breaking lease on Quincy rented residence $2,800
Forfeiture of membership in Quincy Country Club 2,200
Packing and moving van charges 7,100
Lodging during move (3 nights) 380
Meals during move 360
Mileage (for two automobiles) 2,400 miles
How much of these expenses may Anthony deduct?
Step by Step Answer:
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young