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Malcolm received a $3,000 research grant from CALTON. He moved from British Columbia to attend CALTON full-time and had several moving costs which came to

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Malcolm received a $3,000 research grant from CALTON. He moved from British Columbia to attend CALTON full-time and had several moving costs which came to $5,000. He signed a Montreal lease and found a great apartment near CALTON. Which statements are true with regards to moving costs and their claim on a persorial income tax return? Hint: Canada Revenue Agency (CRA) is a good site for tax questions. a) Malcolm realized that his moving expenses paid in the year of the move are more than the research grant he received, he will then carry forward the moving costs and deduct the unused part of those expenses from the same type of research grant he will receive in the following year. Statement is: True of False (highlight and underline your response) (.5 marks) b) Even though CALTON reimbursed $450 for some of his moving costs, Malcolm can still claim the same $450 moving costs on his personal tax return as he did incur them. Statement is: True of False (highlight and underline your response) (.5 marks) c) Malcolm told his friend Jason about claiming moving expenses as he knows that Jason moved 30 kilometers closer to his new work location when he moved from the West Island of Montreal to downtown Montreal. Jason is excited as he has $2,000 in moving costs and will claim them on his 2022 personal tax return as he just moved on October 1, 2022. Statement is: True of False (highlight and underline your response) (.5 marks) d) Provide five (5) eligible moving costs that Malcolm could claim. (1 mark .20 marks each)

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