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Jerry provides you with his income tax information for this year: Employment Income:$200,000 CPP Deduction from his Payroll T4 slip: $0 (80 years old) EI
Jerry provides you with his income tax information for this year:
- Employment Income:$200,000
- CPP Deduction from his Payroll T4 slip: $0 (80 years old)
- EI Deduction from his Payroll T4 slip: $890
- Capital Gains: $20,000 (hint: calculate taxable capital gains)
- Union Dues Deduction:$2,000
- RPP Deduction:$10,000 (based on previous years earned incomes, assume allowed amount for this year)
- Interest Income: $5,000
- Employment Expense Deduction: $10,000
- Non-Capital (Business Loss from 2018) Loss Carry Forward: $20,000
- Net Capital (netted at 50%) Loss Carry Forward: $10,000
What will Jerry insert into his Line 26000, Taxable Income , this year?
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