Mr. and Mrs. JN moved from Lincoln, Nebraska, to Kansas City, Missouri, so that Mr. JN could

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Mr. and Mrs. JN moved from Lincoln, Nebraska, to Kansas City, Missouri, so that Mr. JN could take a job with the HM Company. As part of his employment agreement, Mr. JN received a $7,500 moving expense allowance. What is the effect of this $7,500 cash receipt on the couple's AGI assuming that:
a. Their deductible moving expense was $8,800?
b. Their deductible moving expense was $6,100?
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Principles Of Taxation For Business And Investment Planning 2018

ISBN: 9781259713729

21st Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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