Find how much is charlotte moving expense adjustment

Assignment Help Accounting Basics

Reference no: EM132665508

Problem 1: Darren and Amy are married and filing separate returns for 2019. During 2019, Darren paid $3,500 in interest on his student loan. His modified AGI is $61,580. How much of the student loan interest can Darren deduct as an adjustment to income on his 2019 tax return?

Select one:

a. $ 0

b. $3,500

c. $1,750

d. $2,500

Problem 2: In 2019, Charlotte had to relocate to another city as required by her employer. The new home is 800 miles away from her previous home. She paid $5,000 for moving costs and drove her car 800 miles to her new home. She paid $150 for one-night lodging on the trip and $50 for meals during the trip. She also received a $2,000 reimbursement from her employer. How much is Charlotte's moving expense adjustment?

Select one:

a. $5,294

b. $3,294

c. $3,344

d. $ 0

Reference no: EM132665508

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