Multiple Choice
In order to meet the time test for qualifying moving expenses,a taxpayer must:
A) Remain employed only in the initial new job for the entire 39 or 78 week period.
B) Be a full-time employee for a period of 39 weeks during the 12 months following arrival in the new area.
C) Be a full-time employee for a period of 39 weeks during the 12 months following arrival in the new area or be a self-employed individual for at least 78 weeks during the 24 months immediately following arrival in the new area.At least 39 of the 78 weeks must be during the first 12-month period.
D) Be a self-employed individual for at least 78 weeks during the 24 months immediately following arrival in the new area.At least 39 of the 78 weeks must be during the first 12-month period.
Correct Answer:
Verified
Correct Answer:
Verified
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