Do you have any qualms as to the way these matters have been

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Question: Ingrid s a key employee of Robin Corporation, an auto parts manufacturer located in Detroit. Robin would like to establish a presence in Tennessee and wants Ingrid to be in charge of the regional operation. Ingrid is reluctant to make the move because she fears that she will have to sell her residence in Detroit at a loss. Robin buys the house from Ingrid for $620,000, its cost to her. One year later, Robin sells the property for $550,000. Nothing regarding the sale of the residence is ever reflected on Ingrid's income tax return. Robin Corporation pays for all of Ingrid's other moving expenses.

Do you have any qualms as to the way these matters have been handled for income tax purposes?

Reference no: EM133492656

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