RRSP Marsha had the following income in 2020and 2021 Employment income Business income Interest Income Dividends Rental Income 2020 $140,000 20,000 Rental Income Total Earned Income 18% of earned income 20,000 2000 10,000 Calculate Marsha's maximum RRSP deduction for 2021 Earned Income Employment income Business income Maximum RRSP deduction for 2021 At the end of 2020, she had unused RRSP contribution room of $10,000. Her pension adjustment from 2020 was $5,000. She anticipates a pension adjustment of $7,000 in 2021. Required: Marsha's maximum RRSP contribution for 2021 before adjustments 2021 160,000 $ 5,000 8,000 7.000 6,000 0
RRSP Marsha had the following income in 2020and 2021 Employment income Business income Interest Income Dividends Rental Income 2020 $140,000 20,000 Rental Income Total Earned Income 18% of earned income 20,000 2000 10,000 Calculate Marsha's maximum RRSP deduction for 2021 Earned Income Employment income Business income Maximum RRSP deduction for 2021 At the end of 2020, she had unused RRSP contribution room of $10,000. Her pension adjustment from 2020 was $5,000. She anticipates a pension adjustment of $7,000 in 2021. Required: Marsha's maximum RRSP contribution for 2021 before adjustments 2021 160,000 $ 5,000 8,000 7.000 6,000 0
Chapter14: Taxes On The Financial Statements
Section: Chapter Questions
Problem 26P
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