Question
Prepare a 2017 T1 Return given the following information: Complete the T1 Income Tax Return and any relevant Schedules. Name: Mr. Henry Connor Age: 58
Prepare a 2017 T1 Return given the following information: Complete the T1 Income Tax Return and any relevant Schedules. Name: Mr. Henry Connor Age: 58 Years Old Province: Saskatchewan Gross Salary from Employment $78,990 + Cash Bonus Received in 2017 $19,748 Total $98,738 Union Dues Paid by Taxpayer $693 RPP Contributions by Taxpayer $562 RPP Contributions by Employer $533 EI Withheld from Employment Cheque $836 CPP Withheld from Employment Cheque $2,564 Income Tax Withheld from Employment Cheque $24,685 T5 - Bank Interest Income Received $1,282 Withdraws from RRSP Account (T4RSP Slip)* $7,200 Additional Information: Spouse: Name: Maggie Connor Age of Spouse: 60 Years Old Mentally or Physically Infirm? No (Note: If infirm, not severe enough to qualify for disability tax credit) Sources of Income: $10,484 Interest Income Attended Post Secondary Institution. 4 Full Time Months 4 Part Time Months $9,145 Tuition Paid in Year * During the year, the taxpayer had cash flow issues and decided to cash in a portion of their RRSP in a lump sum Additional Information (continued): Son: George Connor Age of Son: 10 Enrolled in Sports? Yes $276 Paid for Fees Sources of Income: $0 None Monthly Cost of Bus Passes: $34 Monthly Paid Passes were purchased each month January to December. Mother-in Law: Name: Margaret Carter Lives_in_a_Nursing_Home (Note: Mother-in-Law relies on you for support) Age of Mother-in-Law 88 Mentally or Physically Infirm? Yes (Note: If infirm, not severe enough to qualify for disability tax credit) Sources of Income: $7,040 Old Age Security $2,193 CPP Payments Received $2,238 RPP Received Medical Expenses: The following expenses were incurred for the 2017 tax year: Mr. Connor $1,243 Dental Visit Spouse $640 Prescription Drugs Spouse $449 Botox Injections Son $645 Doctor Visit Donations: Registered_Charity $824 $ Donated** ** Assume taxpayer has donated in prior years REQUIRED: Prepare a 2017 T1 Return given the above information. Complete the T1 Income Tax Return and any relevant Schedules. For simplicity, ignore provincial taxes. When preparing the return, assume that any tax credits that may be transferred to Mr. Connor are.
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