Caden, a financial planner, decides to quit his job with an investment bank in Charleston, South Carolina, and establish a private practice in Santa Fe, New Mexico. In connection with the move, he incurs the following expenses:
|
Moving van charge |
$4,500 |
|
Lodging during move |
540 |
|
Meals during move |
410 |
|
Loss on sale of residence in Charleston |
$9,000 |
|
Mileage for personal autos |
3,500 miles |
How much of these expenses, if any, can Caden deduct?