In the Current Year,Bo Accepted Employment with a Kansas City

question 158

Essay

In the current year,Bo accepted employment with a Kansas City law firm after graduating from law school.Her expenses for the year are listed below:
Cost of bar review course
$1,500
Qualified moving expenses
2,100
Job hunting expenses
1,800
Subscriptions to legal journals
450
Membership dues in bar associations
620
State bar dues
300
​
Since Bo worked just part of the year,her salary was only $32,100.In terms of deductions from AGI,how much does Bo have?

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Definitions:

Basis of Measurement

The specific basis chosen to measure various types of assets, liabilities, income, and expenses, such as historical cost, fair value, and amortized cost.

Accrual

An accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.

Net Cash Inflow

The difference between all cash received and all cash spent by a company during a specific period.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, not including cash equivalents.