For the 2019 taxation year, Marion Blue has net employment income of $45,000, spousal support received of $18,000, a net business loss of $3,500, and interest receipts of $1,600.
She is a member of her employer's RPP to which she contributes $1,800. Her employer makes a matching contribution and reports a 2019 PA of $3,600. At the end of 2019, she has unused RRSP deduction room of $4,800 and undeducted RRSP contributions of $3,800. In early 2020, she contributes $9,400 to her RRSP.
Determine Marion's maximum RRSP deduction for 2020. Assuming she deducts her maximum, determine the amount of any Unused RRSP Deduction Room that she will have available at the end of 2020, and indicate the amount of any undeducted contributions remaining at the end of 2020.

Question

Quizplus · Accepted Answer

The Answer of For the 2019 taxation year, Marion Blue has net employment income of $45,000, spousal support received of $18,000, a net business loss of $3,500, and interest receipts of $1,600.
She is a member of her employer's RPP to which she contributes $1,800. Her employer makes a matching contribution and reports a 2019 PA of $3,600. At the end of 2019, she has unused RRSP deduction room of $4,800 and undeducted RRSP contributions of $3,800. In early 2020, she contributes $9,400 to her RRSP.
Determine Marion's maximum RRSP deduction for 2020. Assuming she deducts her maximum, determine the amount of any Unused RRSP Deduction Room that she will have available at the end of 2020, and indicate the amount of any undeducted contributions remaining at the end of 2020.

For the 2019 Taxation Year, Marion Blue Has Net Employment