The following four Cases make different assumptions with respect to the amounts of income and deductions of Ms. Sadie Ramirez for the current year.

Cases

	Case A	Case B	Case C	Case D
Employment Income	$36,000	$34,000	$14,000	$26,000
Business Income (Loss)	(7,000)	(36,000)	26,000	17,000
Property Income (Loss)	14,000	16,000	(22,000)	(38,000)
Taxable Capital Gains	37,000	35,000	31,000	19,000
Allowable Capital Losses	(17,000)	(40,000)	(73,000)	(30,000)
Subdivision e Deductions (RRSP)	(3,000)	(12,000)	(8,000)	(9,000)

For each case, calculate Ms. Ramirez's net income for the current year. Identify and calculate the amount and type of any loss carry overs.

Calculate the net income in case A. (Use parentheses or a minus sign to enter deductions or losses.)

Income Under ITA 3(a):
Employment Income
Property Income
Total ITA 3(a) Income
Income Under ITA 3(b):
Taxable Capital Gains
Allowable Capital Losses
Total ITA 3(b) Income
Balance From ITA 3(a) and (b)
Subdivision e Deductions
Balance From ITA 3(c)
Deduction Under ITA 3(d):
Business Loss
Net Income

Part 2

Answer the following questions. (If an input field is not used in the table leave the input field empty; do not enter a zero.)

Does Ms. Ramirez have any loss carry overs?
If so, how much is a net capital loss?
If so, how much is a non-capital loss?

Part 3

Case B

Calculate the net income in case B. (Use parentheses or a minus sign to enter deductions or losses. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Income Under ITA 3(a):
Employment Income
Property Income
Total ITA 3(a) Income
Income Under ITA 3(b):
Taxable Capital Gains
Allowable Capital Losses
Total ITA 3(b) Income
Balance From ITA 3(a) and (b)
Subdivision e Deductions
Balance From ITA 3(c)
Deduction Under ITA 3(d):
Business Loss
Net Income

Part 4

Answer the following questions. (If an input field is not used in the table leave the input field empty; do not enter a zero.)

Does Ms. Ramirez have any loss carry overs?
If so, how much is a net capital loss?
If so, how much is a non-capital loss?

Part 5

Case C

Calculate the net income in case C. (Use parentheses or a minus sign to enter deductions or losses. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Income Under ITA 3(a):
Employment Income
Business Income
Total ITA 3(a) Income
Income Under ITA 3(b):
Taxable Capital Gains
Allowable Capital Losses
Total ITA 3(b) Income
Balance From ITA 3(a) and (b)
Subdivision e Deductions
Balance From ITA 3(c)
Deduction Under ITA 3(d):
Property Loss
Net Income

Part 6

Answer the following questions. (If an input field is not used in the table leave the input field empty; do not enter a zero.)

Does Ms. Ramirez have any loss carry overs?
If so, how much is a net capital loss?
If so, how much is a non-capital loss?

Part 7

Case D

Calculate the net income in case D. (Use parentheses or a minus sign to enter deductions or losses. For entries with a $0 balance, make sure to enter "0" in the appropriate input field.)

Income Under ITA 3(a):
Employment Income
Business Income
Total ITA 3(a) Income
Income Under ITA 3(b):
Taxable Capital Gains
Allowable Capital Losses
Total ITA 3(b) Income
Balance From ITA 3(a) and (b)
Subdivision e Deductions
Balance From ITA 3(c)
Deduction Under ITA 3(d):
Property Loss
Net Income

Part 8

Answer the following questions.

Does Ms. Ramirez have any loss carry overs?
If so, how much is a net capital loss?
If so, how much is a non-capital loss?