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Ms. Sonia Nexus is a computer specialist with net employment income of $96,000 in 2019. She had a pension adjustment of $5,000.During the year ending
Ms. Sonia Nexus is a computer specialist with net employment income of $96,000 in 2019. She had a pension adjustment of $5,000.During the year ending December 31, 2019 she has:
- interest income of $10,250,
- rental losses of $6,750, and
- a loss from her unincorporated business of $8,000
In addition, she makes spousal support payments of $14,000.She had unused RRSP contribution room from prior years of $4,500.
Required:
Calculate Ms. Nexus's earned income for RRSP purposes and her maximum contribution possible. Show all calculations.
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