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    Salary and Moving Expenses Incurred to Change Jobs

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    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?

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    Solution Preview

    AGI will consist of the following:

    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.