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as $93,000 a adjustment or years. If th an they contr

as $93,000 a adjustment or years. If th an they contr

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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D4
A taxpayer is contributing to an RRSP for the 2021 tax year. The taxpayer's earned income in 2020 was $93,000 and their pension adjustment was $7,000. Earned income and the pension adjustment were both 10% higher in 2021. The taxpayer has no unused RRSP room. from prior years. If the taxpayer is contributing to their RRSP on January 29th of 2022, how much can they contribute for 2021? Enter your answer in the space provided below. (Do not enter a dollar sign, and round to the nearest dollar.)
Transcribed Image Text:A taxpayer is contributing to an RRSP for the 2021 tax year. The taxpayer's earned income in 2020 was $93,000 and their pension adjustment was $7,000. Earned income and the pension adjustment were both 10% higher in 2021. The taxpayer has no unused RRSP room. from prior years. If the taxpayer is contributing to their RRSP on January 29th of 2022, how much can they contribute for 2021? Enter your answer in the space provided below. (Do not enter a dollar sign, and round to the nearest dollar.)
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