Marcie moved from Oregon to West Virginia to accept a bettter job. He incurred the following unreimbursed moving expenses:
Transportaion- $4,000
Lodging-$500
Meals in route- $600
Penalty for beaking apartment lease- $2,000
Forfeiture of athletic club membership- $500
Moving company cost- $7,000
What is Marcie moving expense deduction?
Answer: Moving expanses + $ 11,500
Working notes for the above answer is as under
Transportaion……………… $4,000
Lodging-……………………..$500
Moving company cost….. $7,000
Total Moving cost…………$ 11500
$11,500 ($4,000 + $500 + $7,000).
Note:
Meals ($600), lease penalty ($2,000), and membership forfeiture ($500) arenot qualifying moving expenses
