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Mr. and Mrs. Reid, ages 55 and 50, received the following income during 2020: Mr. Reid: Employment income (commission) ........................... . $15,000 Employment expenses .....................................

Mr. and Mrs. Reid, ages 55 and 50, received the following income during 2020: Mr. Reid:

Employment income (commission) ........................... . $15,000

Employment expenses ..................................... . (13,000)

Investment income:

Canadian interest ..................................... . 2,000

Dividends received (in Cdn. $):

Canadian-resident public corporations .................. . 1,000

U.S. corporations (net of 15% withholding tax) ........... . 680

Mrs. Reid:

Employment income ...................................... . 65,000

Investment income:

Canadian interest ..................................... . 1,000

Dividends received from Canadian-resident public corporations ... . 2,000

Calculate Mrs. Reids federal tax, ignoring the foreign tax credit and ignoring the election to include spousal dividends. (Canadian Tax)

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