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

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.

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.

link

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.

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