Mike Hansen has adjusted gross income of $28,000.During the year,Mike decided he needed a larger home.He purchased a home on a golf course in the same town as his first home.Mike incurred $7,500 in moving expenses.How much of this can he include as an itemized deduction?

Question

Quizplus · Accepted Answer

Under the Tax Cuts and Jobs Act, moving expenses are not deductible for most taxpayers for tax years 2018 through 2025, except for active duty members of the Armed Forces.

Mike Hansen Has Adjusted Gross Income of $28,000