A spouse (wife) contributes to a spousal RRSP for her husband $7,000 per year for the last 5 calendar years. Which of the following statements is true regarding an RRSP withdrawal?

Group of answer choices

1. A withdrawal of $30,000 from a spousal RRSP will result in $21,000 being taxed in the hands of the contributing spouse (wifes T1 return) and the remainder $9,000 in husbands T1 return.

2. A withdrawal from a spousal RRSP of $30,000 will tax in the hands of the contributing spouse (wifes T1 return).

3. A withdrawal of $30,000 from a spousal RRSP will result in $9,000 being taxed in the hands of the contributing spouse (wifes T1 return) and the remainder $21,000 in husbands T1 return.

4. A withdrawal of $30,000 from a spousal RRSP will result in $14,000 being taxed in the hands of the contributing spouse (wifes T1 return) and the remainder $16,000 in husbands T1 return