Explore BrainMass

Explore BrainMass

    Salary and Moving Expenses Incurred to Change Jobs

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Kristen had the followig transactions for 2008: Salary, moving expenses incurred to change jobs, inheritiance received from deceased uncle, life insurance proceeds from policy on uncle's life (Kristen was named the beneficiary), cash prize from church raffle, payment of state income tax. What is Kristen's AGI for 2008?

    © BrainMass Inc. brainmass.com June 3, 2020, 11:38 pm ad1c9bdddf
    https://brainmass.com/business/accounting/salary-moving-expenses-incurred-change-jobs-288905

    Solution Preview

    AGI will consist of the following:

    Salary
    Moving expenses
    Cash prize from church ...

    Solution Summary

    The solution explains the nature of each income item and whether it is taxable. If so, the solution states whether it is FOR AGI or FROM AGI.

    $2.19

    ADVERTISEMENT