Solved

Melanie, a Homeowner, Has Mortgage Interest of $3000, RRSP Contributions

Question 112

Multiple Choice

Melanie, a homeowner, has mortgage interest of $3000, RRSP contributions of $1500, and charitable contributions of $500. According to her filing status, a basic personal deduction of $5000 is allowed. How much should Melanie deduct on her tax return?


A) $1500 plus a tax credit on the charitable contribution and the basic personal deduction
B) $5500 plus a tax credit on the RRSP contribution
C) Total deductions of $7000
D) $8000 plus a tax credit on both the RRSP and the charitable contributions

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents