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

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

Answers

Answer 1

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.

Answer 2

D- Joey cannot claim any compensation in the schedule 1 line 13 of the Income Tax Act as per latest amendments that have been made to the Act recently.

The employer of Joey can also put  a Tax deductible at source as per the will of Joey on the moving expenses as reimbursed by Big Casinos Inc. for transportation from NY to NV.

Earlier the deduction that could have been claimed by Joey could have been in full to such expenses being borne by him even if they were reimbursed to him by the employer.

But after thorough review and reconstruction of the Income Tax Act it was concluded that the expenses reimbursed cannot be deducted by the federal taxation policies as there was tax evasion in this scheme.

After amendments several changes changes have been made to the Act and it has been bought to a conclusion that schedule 1 line 13 will no longer be able to be claimed by the taxable person as it has been reimbursed.

Hence, the correct option is D that Joey can claim a deduction $0 on his moving expenses that were reimbursed by Big Casinos Inc.

To know more about tax deductions, click the link below.

https://brainly.com/question/13757943


Related Questions

What are the different types of economic measurements used to analyze most economies

Answers

Answer:

The levels of poverty.

Exchange rate.

The productivity of laborers.

National debt/The total borrowings of the government.

Inequality in Income.

Real Disposable Income

The Misery Index.

Explanation:

The above are some of the distinct types of economic measurement methods that are employed to analyze the economic growth of a nation. The higher poverty level affects the economic growth negatively. Similarly, the exchange rate, the labor productivity, the amount of national debt, income inequality, etc. are the key factors that displays the economic health of a country. It helps show how well a nation has performed in a specific duration and where they are lagging behind in comparison to other nations.

which of the following resume statements is most effective?

have experience entering data into Microsoft word and excel

proficient in excel, word, visio, publisher, and powerpoint

certified in microsoft office

used expertise in data entry software, analyzed progress of energy conservation in green energy plants

Answers

Answer:

option D i am not sure my answers is correct or not

Answer:

used expertise in data entry software, analyzed progress of energy conservation in green energy plants

Explanation:

Which of the following is likely to INCREASE your monthly payment?

Increasing the size of your down payment
Qualifying for a lower APR
Decreasing the number of months in your term

Answers

Answer: the anwser is c

Explanation:

the decreasing the number of months is what shows you the payment issue

t/f the requirements for becoming a financial planner vary from state to state?​

Answers

Answer:

each state has its owns laws and regulations so it is true that state to state requirements vary

This is a true statement because the states govern licenses that are offered to financial planners based on their background, their education, their experience and their credentials. Therefore, a financial planner in one state may not have the same credentials or backround as a financial in another state even though they are both considered financial planners.

The 90 days have now passed, and it is obvious to many policymakers that a recession exists because consumers are spending less. As a result of these data, the government passes a law that creates an office that will give everyone $3,000 they must spend. This office will take 9 months to create and for hiring the necessary personnel. How would the economy change in this second time period, where the data now have convinced all the policymakers that a recession exists and where the government passed a law to start expansionary fiscal policies, but the money hasn't been distributed yet

Answers

Answer:

In this second time period, people would have more positive expectations about their personal economy, and the overall economy, because they would expect the stimulus check of $3,000 to reach their accounts very soon.

This would make people a bit less cautious with their spending, despite the economic recession. Some people would even use a larger proportion of their regular salary to either pay outstanding debt, or to acquire more expensive consumer goods or assets, because they would set aside the $3,000 for daily expenses.

Corporate philanthropy: Group of answer choices is defined by none of the above is not a way that many companies today express their social responsibilities can be either a cash or a noncash donation is defined as the corporation's responsibility to satisfy the needs of its investors is the practice of limiting investments to companies that behave in accordance with the investors' code of ethics

Answers

Answer:

None of the above.

Explanation:

Philanthropy, whose initial meaning is "love for humanity", is the practice through which the private sectors allocate part of their economic funds to charity or the performance of public works, through foundations or charitable funds that finance works that meet the needs of society or a sector of it. In this context, corporate philanthropy is the exercise of this type of activity by business or corporate groups, which use part of their earnings for the development of charities or public works.

what the importance of teamwork​

Answers

Answer:

Businesses thrive when they have a diverse team of people who can contribute individual ideas. Teamwork helps solve problems. Collaboration within a group can help solve difficult problems. Brainstorming is a good opportunity for the team to exchange ideas and come up with creative ways of doing things.

Explanation:

Can you give me brainliest i really need it to reach my next rank

Answer:

A teamwork environment promotes an atmosphere that fosters friendship and loyalty. These close-knit relationships motivate employees in parallel and align them to work harder, cooperate and be supportive of one another. Individuals possess diverse talents, weaknesses, communication skills, strengths, and habits.

Explanation:

Using the word “CAPITALISM,” create an acrostic poem that demonstrates your understanding of the term. Feel free to come back and comment on other student poems as well!

Answers

Answer:

Capitalism is an economic system based on investing money in the expectation of making a profit. The means of production are usually privately owned by private entrepreneurs who often use wage labor to create added value. In doing so, they enjoy a great deal of legal freedom to dispose of these means, free enterprise production. This freedom also means that there is competition, which means that entrepreneurs have an interest in increasing the efficiency of their company. Hence, the capital owner will not fully consume the profit but reinvest in the business and capital accumulation takes place. The distribution of products is regulated by the market, in which the role of the government is, in principle, limited to that of market master.

Answer:

Explanation:

Controlled

Allows

Political

Innovation

Tolerant

America

Land

Inferior

State

Marketing

in a paragraph of 125 words, describe a vocational program you might be interested in completing. Explain what you
find Interesting about the vocation you selected. Be sure to Include Information about the specific skills it requires, and
the level of education or training needed to be qualified to get a job In the vocation you select.

Answers

Explanation:

Those who might love to participate in a program in vocational design. Those who like me, I am a lovely girl, or in my education, Architecture School, where we learn a great deal about layout, that kind of curriculum is really common.

This sort of software can be really useful to me so I can get the realistic knowledge I need for it. I will improve my stitching, tailoring, textile painting, clothing drawing, clothing and image photocopying skills, and much more.

When Dorothy had children, she decided to quit her job in advertising to stay home and raise them until they went to grade school. * 10 points a. Employed b. Unemployed c. Out of the labor force

Answers

Answer: Out of labor force

Explanation:

The above scenario shows that Dorothy is out of the labor force. The labor force is made up of those that are employed and have a job and those that are unemployed but are searching for job.

In this case, Dorothy left her job to cater for her child and is not looking for a job. This shows that she is out of the labor force.

A company starts a technology organization dedicated to training high school students in the use of the latest program languages. How can the company justify creating and funding such an organization since it is not about its primary products

Answers

The correct answer to this open question is the following.

You forgot to attach the options for this question. However, by doing research we can answer the following.

The company justifies creating and funding such an organization since it is not about its primary products for the following reason: "The funds spent on the tech organization will increase the number of qualified tech people in the society and community."

And action like can justify the funds to create the technology organization dedicated to training high school students in the use of the latest program languages. The reason? It is an action aimed to strengthen the public image of the company by doing some actions that impact and benefit the community. The organization will help people to learn more about technology and be more interested in a career in technology.

How is opportunity cost related to scarcity?

Answers

Answer:

This concept of scarcity leads to the idea of opportunity cost. The opportunity cost of an action is what you must give up when you make that choice. Another way to say this is: it is the value of the next best opportunity. Opportunity cost is a direct implication of scarcity

Explanation:

You prepared a one-page activity report for your supervisor to read while she is traveling. What would be the best way to distribute it to her?

A. Attach it to an email message.
B. Post it on a file-sharing site your team uses for shared documents.
C. Post it on your company's website.
D. Print it and mail it to your supervisor.

Answers

Answer:

A

Explanation:

I'm just guessing on what seems the most appropriate, polite and sensible.

A. Attach it an email message
It’s fast and secure I also asked my dad lol

A decrease in the money supply will shift the aggregate __________ curve to the __________.
a. supply: left.
b. supply: right.
c. demand, left.
d. demand: right.

Answers

Answer: c. demand, left.

Explanation:

When money supply decreases in the economy there will be less cash available for people to spend on consumption as well as investment which are both components of the Aggregate demand curve.

The curve will therefore shift to the left to reflect that Aggregate demand has decreased as a result of the decrease in money supply.

Different customer statement types are available to suit different client situation. Heather wants to help hendatud unpaid invoices, unapplied payments, and Credit Memos. Which statement type should she choose?
A. Balance Forward
B. Open Item
C. Transaction Statemont
D. Client Open Balance

Answers

Answer:

B. Open Item

Explanation:

The open item of creditor side in accounting means the expenses or invoices that are still open from a supplier and the payment has not made i.e. it is open and would be settled and it is predicted to be settled on the last date

So as per the given situation, the option B is correct

And, the rest of the options are wrong

Therefore the same is relevant

Other Questions
The trail lines on the map above represent the trails taken by pioneers migrating to the West. What was the likely effect of these trails on the western regions? (1 point)Group of answer choicesOver time, development occurred all along the trails not just at the end.The trails had little impact on the regions and quickly disappeared after the rush.Along the way, settlers destroyed the land and polluted all the natural resources.Once they reached the end, settlers returned to various points along the trail they liked better. Which sentence best restates franklins major claim in this passage?A. It is better to wake up early than to stay lateB. A government that taxes ten percent is harsh C. Slothful ness has negative consequences D. Life is short, so people should enjoy it In the sample of water, there are 100 atoms of oxygen and 200 atoms of hydrogen. How will the mass of oxygen compare to the mass of hydrogen? On Monday, Vanessa and Ishaan decided to see how fast they could sprint 200 meters. They asked their friend, Luis, to time them with a stopwatch.Vanessa sprinted first and ran 200 meters in 54.91 seconds. When it was Ishaan's turn, he sped off and completed the run in 46.07 seconds.How much faster was Ishaan than Vanessa?Answer: seconds faster what happen when Nacl solution reacts with AgNo3solution .name the two types of reactions to which does it belong how can you promote wellbeing and healthy life through active participation in music dance? two example of development of civilization HELP ASAPsimplify the expression-3(-2/5) 15 POINTS TO PEOPLE WHO ANSWER CORRECTLY WITH EXPLINATION6.Henry can finish painting a fence in 8 hours. John can finish painting the same fence in 12 hours. If they work together for 4 hours, how much of the fence is left unfinished? What is the value of X what is the measure of 2 PLEASE HELPPP please help fast will mark brainliest How many atoms of carbon, hydrogen, and oxygen are there in the reactants of photosynthesis? What type of soft tissue injury involves the complete removal of part of the body? A bag contains 3 red marbles and 5 blue marbles.Find the probability of drawing a blue marble,keeping it, and drawing another blue marble. Writethe probability as a fraction in simplest form. find the value of x. pLeeease help im so tired and i need to SLEEP. Answer the 1s you know1. How does the mechanical energy of a ball that is starting to fall compare to its total energy just before it hits the floor?2. When you stand in sunlight, what form of energy is emitted by the sun?3. An eye doctor wants to design reading glasses that also function as sunglasses. Should the eye doctor use a reflective-transparent material or a reflective-opaque material for the lenses? Support your claim. find an equation in standard form of a parabola passing through the points below (1,-1),(5,31),(6,44). PLEASE ANSWER I NEED HELP Kayla gets paid $15 to rake the lawn. Kayla gets paid 3 times asmuch to rake the lawn as she does to mow the lawn. How muchdoes Kayla get paid to mow the lawn? Pros and cons for growing and selling GM (Genetically modified) food.NEED 5 PROS AND 5 CONS PLEASE What happens as a result of convection currents in the earth's mantals