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Calculated rick net income for tax purposes

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Question - During the 2020 year, Ricky has net employment income of $50,000 and interest income of $6,000. Capital gains for the year total $38400, while capital losses are realized in the amount of $8528. He has deductible child care costs of $1,200 and he is able to make a $5,000 RRSP contribution. He also has a business loss of $173,000.

Required - Calculated Rick's 2020 Net Income for Tax Purposes (Division B income). Indicate the amount and type of any loss carry overs that would be available at the end of the year.

Reference no: EM133125840

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