In April of 2022, Emily and Jacob bought a home at 17 Park Place in Your City for $225,000. Up until then, they lived in a small apartment. The distance from their old apartment to the new house is 25 km. Emily and Jacob have never owned a home. They are excited about their new home, and have provided the following receipts as part of their purchase:

• $12,500 in legal and real estate fees;
• $5,000 in new furniture; and
• $2,000 in moving expenses.

They would like to write-off the above expenses, and would like to equally split any tax credit for the purchase of the home. they cannot claim more than 10,000 in house buyer amount? so moving expenses and legal fee cannot be claimed right?

Answer rating: 100% (QA)

In general expenses related to purchasing a home such as legal and real estate fees moving expenses ... View the full answer