Spilker Taxation of Individuals and Business Entities Roger CPA Review Qu.011 Kris quit his job in November of Year 1 to take care of the children after Kris's spouse, Janice, was killed in a car accident. On January 1, Year 2, Kris sells the large house they have lived in for the last five years and moves about 300 miles away to rent a smaller house near Kris's parents in Smalltown, Florida. Kris started a new full-time job on July 1, Year 2. Kris has the following income and expense items for Year 2: wages Donations received from the community Life insurance proceeds Gain on the sale of principal residence Moving expenses $17,500 15,000 $20,000 50,000 (S 2,500) What is Kris's adjusted gross income for Year 2? Multiple Choice $15,000 $17,500 $30,000 Activate Windows