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Jennifer Nash is a plumber in Waterloo, Ontario, who spends all of her weekends and holidays operating a farm she purchased this year. She is

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Jennifer Nash is a plumber in Waterloo, Ontario, who spends all of her weekends and holidays operating a farm she purchased this year. She is condent that within two years her farm will he mal-dng a prot. In the current year, the farm had a loss of $18,0DD. i. In the current year, she can deduct a maximum of $2,310 of the farm loss against other income. True or False? ii. Any loss that is not deductible in the current year can he carried forward for a maximum of seven years. True or False

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