Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thank you for your help with this Canadian income tax problem Mary Shelton has been transferred by her employer from Edmonton, AB to Montreal, QC.

image text in transcribedthank you for your help with this Canadian income tax problem

Mary Shelton has been transferred by her employer from Edmonton, AB to Montreal, QC. In the course of her move, she incurred the following expenses: Airfare from Edmonton to Montreal $ 547 Legal fees to sell home in Edmonton $ 1,000 Real estate fees to sell home in Edmonton $ 5,000 Legal fees to purchase home in Montreal $ 800 Repairs to home in Montreal prior to moving in $ 2,000 Mary's husband drove the 2,970 kilometres from Edmonton to Montreal in three days with their personal belongings and incurred the following expenses: Gas $ 670 Meals $ 400 Since the move, Mary has earned employment income from her job in Montreal of $35,750. Required: What are the maximum moving expenses Mary can deduct on her tax return? Note under simplified method use 0.48 per KM driven Solution: Deductible moving expenses: Actual Simplified

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Audit Leadership Elevating The Internal Audit Function To Accelerate Value

Authors: Patricia Kaim

1st Edition

1032557168, 978-1032557168

More Books

Students also viewed these Accounting questions

Question

explain what is meant by the terms unitarism and pluralism

Answered: 1 week ago