Constance Currently Commutes 25 Miles from Her House to Her $\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$325$

question 87

Essay

Constance currently commutes 25 miles from her house to her existing part time job in the suburbs. Next week she begins a new full time job in another state, and this job location is 100 miles from her existing home. Because of the additional distance Constance is selling her house, and she has rented an apartment that is only 2 miles from her new job. Constance expects to pay the following moving expenses. Cost of searching for an apartment $\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\$325$
Transportation - auto (computed using the
$\begin{array}{lr}\text { mileage rate of } 23.5 \text { cents per mile, rounded) } & 24 \\ \text { Cost of van to move furniture and possessions } & 810 \\ \text { Meals while en route } & 25\end{array}$ Determine if this move qualifies for a moving expense deduction and calculate the amount (if any) of the deduction.

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Definitions:

Financing Activities

Transactions involving long-term liabilities, stockholder's equity, and changes in short-term loans that impact a company's capital structure.

Treasury Stock

Refers to shares that were once part of the outstanding shares and have been bought back by the issuing company.

Interest Payments

Payments made to lenders as compensation for borrowing money, typically calculated as a percentage of the principal amount.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments not considered as cash equivalents.