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Svet_ta [14]
3 years ago
12

Joey moved from NY to NV because he was transferred by his employer, Big Casinos Inc. His employer reimbursed his moving expense

s,
and reported $1,250 on Form W-2, box 1. Joey's actual moving expenses totaled $1,450. How much can Joey claim as an adjustment to

income on Schedule 1, line 13?

Choose one answer

a. $1,250

b. $1,450

c. $200

d. $0
Business
1 answer:
kow [346]3 years ago
4 0

Answer:

Joey can claim as an adjustment to  income on Schedule 1, line 13:

d. $0

Explanation:

Joey cannot claim any adjustment to his income because moving expenses are no longer tax-deductible based on the new Tax Cuts and Jobs Act, 2017.  Instead of making any adjustment claim, the reimbursement by Joey's employer of his moving expenses to the tune of $1,250 will be included in his income and taxed. Before the new tax law, moving expenses were an adjustment to the adjusted gross income, not an itemized deduction.

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a publisher has copies of a philosophy book in its inventory, but it produces 1,000 copies of the book in august that it expects
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If the publisher actually sells 1300 textbooks:

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<h3>The complete question: </h3>

A publisher has copies of a philosophy book in its inventory, but it produces 1,000 copies of the book in august that it expects to sell in the upcoming academic year. the price of the book is $120. if the publisher actually sells 1,300 textbooks, then:

  • A. the publisher will lose money on the sale of the textbooks.
  • B. the publisher will earn exactly enough revenue to cover the cost of printing the textbooks.
  • C. the publisher will earn more revenue than it would have earned if it had not printed the additional 300 textbooks.
  • D. the publisher will earn less revenue than it would have earned if it had not printed the additional 300 textbooks.

Learn more about publishers :

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3 0
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Answer:

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Answer:

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Explanation:

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