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38 Emilio is 65 years old and is married to Savannah who is 60. He has a RRIF balance at the beginning of the
38 Emilio is 65 years old and is married to Savannah who is 60. He has a RRIF balance at the beginning of the year of $300,000. Part way through the year Emilio passed away after receiving total monthly RRIF payments of $3,000. How much can Savannah expect to receive as an eligible amount to be received tax-free and how much will be included in Emilio's final income tax return. O a) Savannah's eligible amount is $300,000 and $3,000 will be included in Emilio's final income tax return. Ob) Savannah's eligible amount is $297,000 and $3,000 will be included in Emilio's final income tax return. c) Savannah's eligible amount is $297,000 and $9,000 will be included in Emilio's final income tax return. Od) Savannah's eligible amount is $291,000 and $12,000 will be included in Emilio's final income tax return.
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