QUESTION 3

1. Jerry provides you with his income tax information for this year:

   1. Employment Income:$200,000
   2. CPP Deduction from his Payroll T4 slip: $0
   3. EI Deduction from his Payroll T4 slip: $700
   4. Capital Gains: $20,000 (hint: calculate taxable capital gains)
   5. Union Dues Deduction:$2,000
   6. RPP Deduction:$10,000
   7. Interest Income: $5,000
   8. Employment Expense Deduction: $10,000
   9. Non-Capital (Business Loss from 2018) Loss Carry Forward: $20,000
   10. Net Capital (netted at 50%) Loss Carry Forward: $10,000

   What will Jerry insert into his Line 26000, Taxable Income, this year?