About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

B-202392 1 (1981-05-11)

handle is hein.gao/gaobadvnj0001 and id is 1 raw text is: DECISION FILE: t- j 292 THE CMPTIOLLER GENERAL OF.THE UNITED STATES WASHINGTON, D.C. 20548 -B-202392 DATE: May 11, 1981 MATTER OF: Relocation expenses DIGEST: Employee transferred in 1977 sold residence at old stationfor which he had received a ,Federal income'tax credit in 1975, the year in which he: had purchased house as a newly constructed residence. Employee may riot be reimbursed amount of income tax credit recaptured under 26 U.S.C. 44(d) when newly constructed residence was sold within 36 months of purchase. Under 5 U.S.C. 5724a, reimbursement is limited to reason- able expenditures necessary to consumma- tion of real estate transactions and the applicable regulations preclude reimburse- ment of costs incident to real estate sale as items of miscellaneous expense. This action is in response to letter dated February 26, 1981, from Mr. Claude F. Pickelsimer, Jr., Director, Financial Management Branch, Center for Disease Control, Public Health Service, requesting a decision as to the propriety of making paymen on a voucher in favor of , an employee of that agency. The $1,743 amount in question is claimed as a reimbursable relocation expense incident to transfer to Berkeley, California.. In January 1975, was transferred from Riverside, California, to San Antonio, Texas. Following that transfer, he purchased a newly constructed residence in the San Antonio area and was allowed a tax credit equal to 5 percent of the purchase price in the computation of his 1975 Federal income tax. In August 1977, he was trans- ferred from San Antonio, Texas, to Berkeley, California. He sold his home in San Antonio, but was unable to purchase a newly constructed residence in the Berkeley area within 1.8 months of the sale of his residence in San Antonio. The credit which he received on his 1975 Federal income tax return was subject to full recapture on his 1979 return for the reasons that he did not retain the house as his residence for the full 36 months nor did he repurchase a newly constructed home in the Berkeley area within 18 months after the sale. • 41

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most