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Mrs. Cindy Bastien has the following information relating to her 2020 income tax return: - Employment income of $42,100 - Business loss of $51,000 -
Mrs. Cindy Bastien has the following information relating to her 2020 income tax return: - Employment income of $42,100 - Business loss of $51,000 - Interest earned on various investments of $8,200 - Lottery winnings of $22,000 - Taxable capital gains of $22,400 and allowable capital losses of $19,200 - Subdivision e deductions totalled $4,200 Required: Calculate the Net Income for Tax Purposes and identify any loss carryovers that would be available at the end of the current year. Show your work.
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