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1.Mr. and Mrs. Adam moved from Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation.

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1.Mr. and Mrs. Adam moved from

Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation. As part of her employment contract, Mrs. Adams received a $10,000 moving allowance. What is the effect of this $10,000 cash receipt on the couple’s AGI assuming the following?

Their deductible moving expenses totaled     $8,000.
Their deductible moving expenses totaled     $11,000

 
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