Fabian, a single, member of the military, was stationed at White Sands, New Mexico. On July 1, 2018, his army company transferred him to Florida as a permanent duty station. Fabian worked full time for the entire year. During 2018, he incurred and paid the following expenses related to the move:
| Pre-move house hunting costs | $ | 1,425 | |
| Lodging and travel expenses (not meals) while moving | 2,400 | ||
| Cost of moving furniture and personal belongings | 3,325 | ||
He did not receive reimbursement for any of these expenses from the
army; his AGI for the year was $83,500. What amount can Fabian
deduct as moving expenses on his 2018 return?
Answer Allowable moving epenses deduction:
Pre move house hunting cost Not Allowed
Lodging And Travel expenses $2400
Cost of Moving Furniture & beelongings $3325
Total Deduction Allowed $5,725
Fabian, a single, member of the military, was stationed at White Sands, New Mexico. On July...
Military Scenario 4: Jose Gonzalez Interview Notes • Jose Gonzalez is single. • Jose is a supply specialist in the Reserves. He attended training drills one weekend a month for 12 months in 2019. • Jose only owns one vehicle. He placed his vehicle in service on September 3, 2016. Jose's total mileage in 2019 was 18,500 miles. His average daily roundtrip commut- ing distance was 45 miles. Jose's duty station is 153 miles away from his residence. He drove...
Questions:
1. The Summers cannot deduct the cost of their side trip and
house hunting trip as qualified moving expenses.
a. True
b. False
2. How much can D and Jane claim as their total qualified
lodging expenses?
a. $0
b. $89
c. $356
d. $623
3. The net financial gain from D and Jane's move is included as
wages on Form 1040, U.S. Individual Income Tax Return.
a. True
b. False
4. How many miles can D and Jane...