Turbo tax online allows you to deduct moving expense more than your personal income.
For Eg if you earn 15000 in personal income and 25000 dividends in a year, and you moved to a different city to start your business incurring moving expense, Turbo Tax online is allowing me to deduct 16000 in moving expense exceeding my personal income of 15000. Isnt that a software bug? I found out that CRA rules dont allow your moving expense to exceed personal income. Ive already filed my taxes and realized this mistake. Should I be asking turbo tax for a refund?
When you completed the Moving Expense section (T1-M), you need to enter your "Net Eligible Income earned at your new location". Your moving expenses cannot exceed the amount which you have entered here, and only if you entered an amount which exceeds this would TurboTax allow a claim higher than the eligible amount.
Net Eligible Income is explained in this CRA link. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...
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