Question: Central Michigan Medical Association CMMA is planning on hiring a

Central Michigan Medical Association (CMMA) is planning on hiring a new cardiologist who currently lives in Dallas, Texas. The cardiologist owns home in Dallas. Due to the depressed housing market, he would incur a loss of $80,000 if it were sold. For the new doctor to relocate to Michigan, he requests that CMMA reimburse him for the loss to be incurred on the sale of his Dallas home. In conducting tax research, what are some tax issues to consider with regard to the tax treatment for the loss reimbursement? Identify the key issues as precisely as possible.

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  • CreatedOctober 04, 2014
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