On November 1, 2020, Joan Hatch moves from Windsor to Toronto at the request of her employer. Prior to this date, she spent $950 on a house hunting trip to Toronto. However, she was not successful and, given this, she has signed a one-year lease for an apartment at her new location. The legal fees and real estate commissions associated with the sale of her Windsor house were $7,200. The actual costs of the move, including amounts paid to a moving company, totaled $12,600. Her employer agreed to pay $7,000 of her moving costs.
Ms. Hatch's salary for 2020 was $54,000. Determine Ms. Hatch's maximum moving expense deduction for 2020, as well as any carry forward that is available.

Question

Quizplus · Accepted Answer

The Answer of On November 1, 2020, Joan Hatch moves from Windsor to Toronto at the request of her employer. Prior to this date, she spent $950 on a house hunting trip to Toronto. However, she was not successful and, given this, she has signed a one-year lease for an apartment at her new location. The legal fees and real estate commissions associated with the sale of her Windsor house were $7,200. The actual costs of the move, including amounts paid to a moving company, totaled $12,600. Her employer agreed to pay $7,000 of her moving costs.
Ms. Hatch's salary for 2020 was $54,000. Determine Ms. Hatch's maximum moving expense deduction for 2020, as well as any carry forward that is available.

On November 1, 2020, Joan Hatch Moves from Windsor to Toronto