Assume today is Feb 11th of Year 3. You have the following information: Year 1 $- $ 1,000 $ 7,000 $ 370 $ 450 $ 1,400 Contribution on Jan 19 Contribution on July 4 Beg of year undeducted contributions Beg of year unused deduction room Pension adjustment Pension adjustment reversal Past service pesion adjustment Earned income RRSP Dollar Limit $ $ 121,000 $ 23,000 900 Year 2 $- $ 7,000 $ 8,700 $ 1,600 $ 1,200 $- $- $ 59,000 $ 23,700 With no extra contributions, what's the most that could be deducted on the Year 2 tax return? Year 3 $ 5,000 $- 69 69 69 $- $- $ 24,600
Assume today is Feb 11th of Year 3. You have the following information: Year 1 $- $ 1,000 $ 7,000 $ 370 $ 450 $ 1,400 Contribution on Jan 19 Contribution on July 4 Beg of year undeducted contributions Beg of year unused deduction room Pension adjustment Pension adjustment reversal Past service pesion adjustment Earned income RRSP Dollar Limit $ $ 121,000 $ 23,000 900 Year 2 $- $ 7,000 $ 8,700 $ 1,600 $ 1,200 $- $- $ 59,000 $ 23,700 With no extra contributions, what's the most that could be deducted on the Year 2 tax return? Year 3 $ 5,000 $- 69 69 69 $- $- $ 24,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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