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a. Cheryl and Mike work as flight attendants on El Cheapo Airlines. On their days off, they fly for free on an empty seat. However,
a. Cheryl and Mike work as flight attendants on El Cheapo Airlines. On their days off, they fly for free on an empty seat. However, they must wait until the very last minute to ensure that the seat remains empty and that the airline was truly unable to sell the seat to a paying customer. Consulting I.R.C. 132 and 125, and determine whether or not taxable income is received
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