Question
Parker and Morgan both have RRSP accounts. Parker contributed $4,000into their own RRSP account in December2022and $4,000into a spousal RRSP for Morgan in January2023.Morgan has
Parker and Morgan both have RRSP accounts. Parker contributed $4,000 into their own RRSP account in December 2022 and $4,000 into a spousal RRSP for Morgan in January 2023. Morgan has not contributed into RRSPs for the last 2 years. Parker's RRSP deduction limit is $45,000 and Morgan's RRSP deduction limit is $3,000
what goes in line 20800 and Did Parker or Morgan over-contribute to their RRSPs? Is Form T2205 required for Parker and Morgan?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Line 20800 of the Canadian tax return form is used to report contributions made to a Registered Reti...
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
