In 2015, Miguel Accepted a New Job and Moved from San

question 41

Essay

In 2015, Miguel accepted a new job and moved from San Diego to Boston to begin work. He incurred moving expenses for his household goods and furniture of $3,500. Prior to moving, Miguel flew to Boston to look for a new residence. The transportation and lodging for this trip to Boston was $900 and his meals were $150. The cost of his travel during the actual move to Boston was $500 which included $75 for meals. Calculate the amount of Miguel's moving expense deduction for 2015.

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Definitions:

Double Coincidence

A situation in barter economies where two parties each possess a good or service that the other desires, enabling an exchange.

Likely

Likely refers to a high probability or chance of something happening or being the case, often used to forecast outcomes based on current trends or evidence.

Evolution Of Money

The historical development and transformation of money from traditional bartering systems to modern digital currencies.

Physical Commodities

Raw materials or primary agricultural products that can be bought, sold, or traded, often through futures contracts.