Question
During the year ending December 31, 2018, Ramona Collins has employment income before the deduction of any RPP contributions of $40,000, a net business loss
During the year ending December 31, 2018, Ramona Collins has employment income before the deduction of any RPP contributions of $40,000, a net business loss of $16,000, interest income of $6,000, and income from royalties of $7,000. The royalties were on a book written by Ms. Collins in her undergraduate years at university. She has no Unused RRSP Deduction Room from previous years. She is a member of a Deferred Profit-Sharing Plan in which, during 2018, her pension adjustment was $3,000. Her maximum deductible Registered Retirement Savings Plan contribution for 2019 is:
Select one:
a. $2,580
b. $1,320
c. $5,580
d. $3,660
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