Solution-What will jerry insert into his line

What will jerry insert into his line

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Reference no: EM133170213

Question - Jerry provides you with his income tax information for this year:

1. Employment Income: $200,000

2. CPP Deduction from his Payroll T4 slip: $0 (80 years old)

3. EI Deduction from his Payroll T4 slip: $890

4. Capital Gains: $20,000 (hint: calculate taxable capital gains)

5. Union Dues Deduction: $2,000

6. RPP Deduction:$10,000 (based on previous years earned incomes, assume allowed amount for this year)

7. Interest Income: $5,000

8. Employment Expense Deduction: $10,000

9. Non-Capital (Business Loss from 2018) Loss Carry Forward: $20,000

10. Net Capital (netted at 50%) Loss Carry Forward: $10,000

Required - What will Jerry insert into his Line 26000, Taxable Income, this year?

Reference no: EM133170213

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What will jerry insert into his line

Reference no: EM133170213

Reference no: EM133170213

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