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PROBLEMS 1) Brandi moved from New York City to California to accept a better job. She incurred the following unreimbursed moving expenses: $4,000 500 600 2,000 400 6,000 Transportation Lodging Meals in route Penalty for breaking apartment lease Forfeiture of athletic club membership Moving company cost What is Brandi's moving expense deduction? 2) George is employed by the Quality Appliance Company. All the full time employees are allowed to purchase appliances at the company's cost plus 5%. The employee also is given, at no cost, a 1-year service contract on all the goods purchased from the company. George purchased a refrigerator for S420. The company's normal selling price for the refrigerator is $800. George also received a service contract, at no charge, that had a value of $120. During the year, George was required to have his refrigerator serviced once. The cost of the call would have been $50 if he had not had the service contract. Is George required to recognize any income from the purchase of the refrigerator and the receipt of the service contract? 3) Emma had the following transactions during 2017: $70,000 Sal Interest income on bonds Issued by City of Newark Issued by Chevron Corporation $3,000 2,000 Alimony received Child support received City and state income taxes paid Bank loan obtained to pay for vacation 5,000 4,000 2,000 5,000 8,000 What is Emma's AGI for 2017? 4) Robert had the following transactions for 2017 Salary Alimony paid Recovery from car accident $ 80,000 6,000 Personal injury damages Punitive damages $60,000 30,00090,000 26,000 Gift from parents Property sales Loss on sale of camper (used for pleasure and owned 3 years) Gain on sale of Conoco stock (held for 8 months as an investment) 3,000 (S 2,000) 000

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