Calculate the amount of deduction


Clyde currently commutes 55 miles to work in the city. He is considering a new assignment in the suburbs on the other side of the city that would increase his commute considerably. He would like to accept the assignment, but he thinks it might require that he move to the other side of the city. (If Clyde's move does not qualify for moving expense deduction, enter "0" for the amount of deduction. Omit the "tiny_mce_markerquot; sign in your response.) a. Clyde estimates that unless he moves across town, his new commute would be almost 70 miles. Assume that Clyde is employed for 39 of the next 52 weeks. He also estimates the costs of a move as follows: Lodging while searching for an apartment $135 Transportation - auto (100 miles @ 23 cents/mile) 23 Mover's fee (furniture and possessions) 1,550 Lodging while en route 200 Meals while en route 33(i) Does Clyde's move qualify for a moving expense deduction? Yes No (ii) Calculate the amount of deduction. Deductible amount $ b. Clyde estimates that unless he moves across town, his new commute would be almost 115 miles. Assume he is employed for 39 of the next 52 weeks. (i) Does Clyde's move qualify for a moving expense deduction? Yes No (ii) Calculate the amount of deduction. Deductible amount $ c. Clyde's new commute would be almost 150 miles and the movers intend to impose a $400 surcharge on the moving fee for the additional distance. Assume he is employed for 39 of the next 52 weeks. (i) Does Clyde's move qualify for a moving expense deduction? Yes No (ii) Calculate the amount of deduction. Deductible amount $?

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Accounting Basics: Calculate the amount of deduction
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