Question
Jerry provides you with his income tax information for this year: 1. Employment Income: $100,000 2.CPP Deduction from his Payroll T4 slip: $2,000 3. El
Jerry provides you with his income tax information for this year: 1. Employment Income: $100,000 2.CPP Deduction from his Payroll T4 slip: $2,000 3. El Deduction from his Payroll T2 slip: $700 4. Capital Gains: $20,000 (hint: calculate taxable capital gains) 5. Union Dues Deduction: $2,000 6. RPP Deduction:$10,000 7. Interest Income: $5,000 8. Employment Expense Deduction: $10,000 9. Non-Capital (Business Loss from 2010) Loss Carry Forward: $20,000 10. Net Capital (netted at 50%) Loss Carry Forward: $20,000 What will Jerry insert into his Line 26000, Taxable Income, this year
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