Rmn Kathi is a captain in the US Air Force. In June 2023, her duty stationchanged from Travis Air Force Base in Caifornia to Fairchild AFB inWashington. SHe drove 830 miles (at .22 cents per mile) and spent $1,300to move her household items. Kathi also incirred costs of $880 when shesold her home in her former city. Included on her form W-2, in box 12, iscode P for $1,494.Kathi's moving expenses adjustments is1. $112. $03. $8694. $1,483

Step 1: Calculate the mileage deduction• 830 miles × $0.22 per mile.Step 2: Include the cost of…

Answered: Kathi is a captain in the US Air Force.…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter7: Losses—deductions And Limitations

Section: Chapter Questions

Problem 86TA

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Kathi is a captain in the U.S. Air Force. In June 2022, her duty station changed from Travis Air Force Base in California to Fairchild AFB in Washington. She drove 830 miles and spent $1,300 to move her household items. Kathi also incurred costs of $880 when she sold her home in her former city. Included on her Form W-2, in box 12, is code P for $1,449. Kathi's moving expenses adjustment is _________.
Dione is a Gunnery Sergeant in the U.S. Marine Corps. In May of 2021, her duty station changed from the Marine Barracks in Washington, D.C., to Camp Lejeune in North Carolina. She drove 348 miles and spent $1,150 to move her household items. Dione also incurred closing costs of $1,040 when she sold her home in her former city. She received this Form W-2 reporting her moving expense reimbursement. Choose the response that correctly identifies the amount of Dione's moving expense deduction. (Answer choices are below the image.) $0 $56 $1,040 $2,190
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In May 2020, Regina graduated from the Air force Academy with a degree in aeronautical engineering and was assigned to Homestead, Florida. as a permanent duty station. In her move to Homestead, Regina incurred the following costs: $525 in gasoline. $295 for renting a truck from UPAYME rentals. $130 for a tow trailer for her car. $115 in food. $40 in double espressos from Starbucks. $390 for motel lodging on the way to Homestead. $510 for a previous plane trip to Homestead to look for an apartment $235 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 2020 tax return? Moving expense doduction
Dulari, a single, member of the military, was stationed at Camp Pendleton,California. On July 1, 2020, her army company transferred her to Washington, DC, as a permanent duty station. Dulari was active duty for the entire year. During 2020, she incurred and paid the following expenses related to the move: Pre-move house-hunting costs Lodging and travel expenses (not meals) while moving Cost of moving furniture and personal belongings $ 1,475 2,500 3,475 Required: She did not receive reimbursement for any of these expenses from the army; her AGI for the year was $84,500. What amount can Dulari deduct as moving expenses on her 2020 return? Dulari's moving expenses deduction
On September 1st, 2018, Mr. Payton moves from Sudbury to Ottawa (Ottawa is 484 kilometers from Sudbury) for a new job. He lived in a rented apartment in Sudbury and purchased a house in Ottawa. The total cost of the actual move, including the costs of moving his personal possessions, was $16,500. He paid $500 to the cleaners to clean the rented home and hand it over to the landlord as per his tenancy contract. He spent $750 on a house hunting trip to Ottawa, but he did not decide on a house until his return to Sudbury. He also incurred a $2,000 penalty for breaking his lease in Sudbury. He also incurred $150 of mail forwarding cost to his new address. He also paid $200 expenses for various utilities connections at his new address in Ottawa. During the year, his salary totaled $60,000, of which $45,000 was earned in Sudbury and the remaining $15,000 was earned in Ottawa. As Payton is hired at a junior level, his new employer is not reimbursing any of the moving expenses.…
In 2017 Rena accepted a new job and moved from Seattle to Pittsburgh to begin to work. She incurred moving expenses for her households goods and furniture of 3,500. Prior to moving, Rena flew to Pittsburgh to look for a new residence. The transportation and lodging for this trip to Pittsburgh was 900 and her meals were 250. The cost of her tracer during the actual move to Pittsburgh was 500, which include 75 for meals. Calculate the amount of Renas moving expense deduction for 2017.
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?
Eliza is a kindergarten teacher for Alexander Hamilton Elementary School. Eliza decorates her classroom with new artwork, posters, bulletin boards, etc. In 2018, she spends $470 on materials and supplies for her classroom. The school reimburses her $100 (the annual reimbursement limit). Eliza can deduct for AGI________and________ from AGI?
Note : Dont post image in this answer Clark moved from Salt Lake City, Utah to Los Angeles, California in November 15, 2022, where he was stationed in the military. He drove his own car for the move, covering a total of 1,250 miles. During the trip, he spent $180 on parking and tolls, $680 on lodging, and $300 on meals. If he chooses to use the Standard Mileage Rate, what amount of his moving expenses can he deduct as an adjustment to income on his 2022 tax return? a) $ 1,220.50 b) $ 920.50 c) $ 781.25 d) $1,160.00
Rebecca is a doctor with an AGI of $133,000 before consideration of income or loss from her dog breeding business. Her home is on 15 acres, 10 of which she uses to house the animals and provide them with ample space to play and exercise. Her records show the following related income and expenses for the current year: $2,900 $4,400 3,900 1,360 430 Income from fees and sales. Expenses: Dog food Veterinary bills. Supplies Publications and dues Required: a. How must Rebecca treat the income and expenses of the operation if the dog breeding business is held to be a hobby? (Leave no cells blank. Enter "0" wherever required.) b. How would your answer differ if the operation were held to be a business? (Leave no cells blank. Enter "0" wherever required. Enter all losses with a minus sign.) a. Schedule C Business income/(loss) Other Income/(loss) Expenses (Schedule A) b. Schedule C Business income/(loss) Other Income/(loss) Expenses (Schedule A) $ 2,900 $ 10,090
In May 2021, Reginald graduated from the Naval Academy with a degree in aeronautical engineering and was assigned to Pensacola, Florida as a permanent duty station. In his move to Pensacola, Reginald incurred the following costs: $485 in gasoline. $271 for renting a truck from UPAYME rentals. $114 for a tow trailer for his car. $99 in food. $32 in double espressos from Starbucks. $342 for motel lodging on the way to Pensacola. $454 for a previous plane trip to Pensacola to look for an apartment. $203 in temporary storage costs for his collection of sports memorabilia. Required: If the government reimburses him $900, how much, if any, may Reginald take as a moving expense deduction on his 2021 tax return? Moving expense deduction

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