Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 9, Problem 30P
a.
To determine
Identify Ms. K’s weekend expenses deduction.
b.
To determine
Explain the changes if the amount involved were reversed.
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In May 2019, Regina graduated from the Naval Academy with a degree in engineering and was assigned to San Diego as a permanent duty station. In her move to San Diego, Regina incurred the following costs:$450 in gasoline.$250 for renting a truck from UPAYME rentals.$100 for a tow trailer for her car.$85 in food.$25 in double espressos from Starbucks.$300 for motel lodging on the way to San Diego.$405 for a previous plane trip to San Diego to look for an apartment.$175 in temporary storage costs for her collection of crystal figurines.
Required:
If the government reimburses her $900, how much, if any, may Regina take as a moving expense deduction on her 2019 tax return?
On September 1, 2021, Jennifer Wells moves from London to Oakville at the request of her employer. Prior to this date, she spent $875 on a house hunting trip to Oakville. However, she was not successful and, given this, she has signed a one-year lease for an apartment at her new location. The legal fees and real estate commissions associated with the sale of her London house were $8,500. The actual costs of the move, including amounts paid to a moving company, totaled $15,230. Her employer agreed to pay $8,000 of her moving costs. Ms. Well's salary for 2021 was $45,000.
Determine Ms. Well's maximum moving expense deduction for 2021, as well as any carry forward that is available.
Payment From Employer
House Hunting Trip
Balance
Cost Of Selling London House
Moving Costs
Available Deduction
Income At New Location
Carry Forward
Jane Doe moved from Victoria to Vancouver for an internal transfer requested by her employer on
October 1, 2020. Prior to relocation, she spent $1000 on a house hunting trip to Vancouver and ended up
signing a one-year lease for an apartment in Vancouver after an unsuccessful bid for a house. The cost of
sales of her old residence in Victoria, including legal fees and brokerage fees, totaled $7,200. The actual
moving costs were $13,000. Jane’s employer agreed to pay $8,000 for her moving costs. Jane’s salary for
2020 was $48,000 (assume her monthly salary is the same throughout the year).
Required: Calculate Jane’s maximum moving expense deduction for 2020. Please also indicate the carry
forward amount, if any.
Chapter 9 Solutions
Individual Income Taxes
Ch. 9 - Prob. 1DQCh. 9 - Mason performs services for Isabella. In...Ch. 9 - Milton is a resident of Mobile (Alabama) and is...Ch. 9 - In 2017, Emma purchased an automobile, which she...Ch. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 9DQCh. 9 - Prob. 10DQ
Ch. 9 - Prob. 11DQCh. 9 - Prob. 12DQCh. 9 - Prob. 13DQCh. 9 - Prob. 14DQCh. 9 - Paul wholly owns and operates an office supplies...Ch. 9 - Prob. 16DQCh. 9 - Prob. 17DQCh. 9 - Lara uses the standard mileage method for...Ch. 9 - Fred, a self-employed taxpayer, travels from...Ch. 9 - Prob. 20CECh. 9 - Prob. 21CECh. 9 - In 2019, Robert entertains four key clients and...Ch. 9 - In 2019, the CEO of Crimson, Inc., entertains...Ch. 9 - Prob. 24CECh. 9 - Cindy maintains an office in her home that...Ch. 9 - Prob. 26CECh. 9 - Prob. 27CECh. 9 - Prob. 28PCh. 9 - Prob. 29PCh. 9 - Prob. 30PCh. 9 - In June of this year, Dr. and Mrs. Bret Spencer...Ch. 9 - Prob. 32PCh. 9 - On Thursday, Justin flies from Baltimore (where...Ch. 9 - Monica, a self-employed taxpayer, travels from her...Ch. 9 - Prob. 35PCh. 9 - Prob. 36PCh. 9 - Prob. 37PCh. 9 - Prob. 38PCh. 9 - Prob. 39PCh. 9 - Prob. 40PCh. 9 - Shelly has 200,000 of QBI from her local jewelry...Ch. 9 - Prob. 42PCh. 9 - Prob. 43PCh. 9 - Prob. 44PCh. 9 - Prob. 45PCh. 9 - Prob. 46PCh. 9 - Ben and Molly are married and will file jointly....Ch. 9 - Prob. 48PCh. 9 - Prob. 49PCh. 9 - Prob. 50PCh. 9 - David R. and Ella M. Cole (ages 39 and 38,...Ch. 9 - Addison Parker (Social Security number...Ch. 9 - In the current year, Barlow moved from Chicago to...Ch. 9 - Prob. 2CPACh. 9 - Prob. 3CPACh. 9 - Prob. 4CPACh. 9 - Prob. 5CPACh. 9 - Prob. 6CPACh. 9 - Calculate the taxpayers 2019 qualifying business...Ch. 9 - Prob. 8CPA
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