Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I NEED THE CORRECT ANSWERS AND ALL SCHEDULES AND FORMS FOR ASH, MORGAN AND PARKER Morgan and Parker are common-law partners and the parents of

I NEED THE CORRECT ANSWERS AND ALL SCHEDULES AND FORMS FOR ASH, MORGAN AND PARKER

Morgan and Parker are common-law partners and the parents of two children: Ash and Avery (born on May 17, 2012). Avery does not have any income.

Ash graduated from secondary school in June and received a scholarship for excellent work in school, and has a T4A with $5,500 in Box 105. Ash took the summer off to do some travelling. In September, Ash began full-time study at the University of Your Province. Ash lives in a university residence during the academic year, but uses River Road as their official address. In addition to tuition of $3,000, Ash spent $350 on books and $25 for student association fees, and has receipts for these expenses. Ashs T2202 shows that they attended university full-time for four months. Ash wants to transfer maximum tuition amounts to their parents.

Parker works as a meteorologist and Morgan works part-time as a graphic artist. Their information slips are reproduced below.

Parker and Morgan paid the following medical expenses in 2022, for which they were not reimbursed by their insurance:

July 16 Ash Dr. Wolf, orthodontist $2,100
August 15 Avery Dr. Wolf, orthodontist $5,000
All year Morgan Chiropractor* $2,500

*Note: For anyone in NT or NU, assume that the chiropractic treatment took place outside of NT or NU (and would include any related eligible medical travel expenses).

Parker has official receipts for these expenses. The only other medical expenses the family had in 2022 were the premiums for the health insurance plan Parker paid through work.

Morgan was in hospital for six weeks during the year, but all expenses were covered by their health plan. Morgan paid Victoria Lipinski (SIN 805 212 438) $2,000 to care for Avery after school on working days and for the six week hospital stay.

Parker and Morgan both have RRSP accounts. Parker contributed $4,000 into their own RRSP account in December 2022 and $4,000 into a spousal RRSP for Morgan in January 2023. Morgan has not contributed into RRSPs for the last 2 years. Parker's RRSP deduction limit is $45,000 and Morgan's RRSP deduction limit is $3,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Public Financial Management Essentials Of Public Sector Accounting

Authors: Gary Bandy

1st Edition

081535634X, 978-0815356349

More Books

Students also viewed these Accounting questions

Question

Summarize the ABCDE method for overcoming irrational beliefs.

Answered: 1 week ago

Question

Learn about HRM challenges in the textile industry.

Answered: 1 week ago