The financial results of an individual are outlined below for three years. 56 2020 $22,000 2021 $ 27,000 2022 $40,000 -0- 40,000 -0- --0- 5,000 12,000 Employment income Capital gains: Listed personal property Other capital property Capital losses: Listed personal property Shares of a small business corp. Other capital property Share of a business partnership's Income (loss) Dividends from Canadian corporations -Non-eligible (CCPC) RRSP contributions -O- -0- -- 7,000 12,000 4,000 (9,000) (40,000) (48,000) (57,000) 4,000 -0- -0- --0- -0- -0- -0- -0- 1. Determine the individual's net capital losses, non-capital losses, and listed personal property losses for 2021 by completing the chart below. When inputting amounts in the computation of net income and taxable income, any reduction should be entered as a negative amount. When computing the carry forward balances, enter all amounts as positive numbers. Ignore the affect of any applicable Canada Pension Plan contributions. 2021 3(a) Subtotal for paragraph 3(a) $ 0 3(b) Subtotal for paragraph 3(b) 3(c) Other deductions 3(d) $ 0 Amount determined under paragraph 3(d) Net income for tax purposes Taxable income Loss carry forward balances: Net capital losses Non enitelnecne Assignment 5 Saved 56 Loss carry forward balances: Net capital losses Non-capital losses Listed personal property loss INI 2. Determine the individual's taxable income for 2020 and 2022. (Enter reductions to net income and taxable income as negative amounts. Enter any unused loss carry forward balances as positive amounts.) 2020 Amended 3(a) Subtotal for paragraph 3(a) 3(b) 3(c) 3(d) Losses Net income Loss carry forward deductions: Deduct Unused Net capital loss Deduct Unused Non capital loss Taxable income Loss carry forward balances (enter as positive amounts): Net capital losses Non capital losses Listed personal property losses 2022 3(a) 3(b) Assignment 5 Saved 3(a) 56 Subtotal for paragraph 3(a) 3(b) 3(c) 3(d) Losses Net income Loss carry forward deductions: Deduct Unused Net capital loss Deduct Unused Non capital loss Taxable income Loss carry forward balances (enter as positive amounts): Net capital losses Non capital losses Listed personal property losses 2022 3(a) 3(b) Subtotal for paragraph 3(b) 3(c) Other deductions 3(d) Losses Net Income Loss carry forward deductions: Net capital loss Non capital loss Taxable income Loss carry forward balances (enter as positive amounts): Net capital losses Non capital losses Listed personal property losses