Question
10.1.9 Question Help Jacob Dowling would like to know his maximum RRSP deduction in the current year. The Federal government's annual RRSP limit for the
10.1.9 Question Help Jacob Dowling would like to know his maximum RRSP deduction in the current year. The Federal government's annual RRSP limit for the current year is set at $26,500. Jacob provides you with the following information. Unused RRSP Deduction Room at December 31 of the prior year: $8,000 Prior year earned income: $84,000 Current year earned income: $95,000 RRSP contribution made to his own self-administered RRSP plan during the current year: $11,900 RRSP contribution made to a spousal plan (TD Bank) on February 1 of the following year: $5,800 RRSP contribution made to his own plan (TD Bank) on March 15 of the following year: $4,700 What is Jacob Dowling's maximum RRSP deduction for the current year? Choose the correct answer. A. $25,100 B. $17,700 C. $26,500 OD. $23,120 *
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