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View the other information. Withholdings Read the reguirements. Requirement A. Detemine Ms. Valentine's minimum 2022 net income. (Round your answers to the nearest whole doilar.)

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View the other information. Withholdings Read the reguirements. Requirement A. Detemine Ms. Valentine's minimum 2022 net income. (Round your answers to the nearest whole doilar.) Other Information 1. Ms. Valentine is provided with an automoblle by her employer. In 2022 , it is Ms. Valentine's Family Information driven 47,800 kilometres, of which 42,300 are for employment purposes and 5,500 for personal use. The automobile is leased by the employer at a monthly rate of $733, including GST of $29 and PST of $53. The monthly rate also includes a Ms. Valentine is divorced and has custody of her two children. They are aged 12 payment for insurance of $55 per month The automobile was used by Ms. and 17 . The 12 -year-old son has 2022 net income of 52,420 . Valentine for 11 months during 2022 . She was required to return the automobile to her employer's garage during the month that she did not use it. The 17 -year-old daughter is in full time attendance at a university during eight 2. Ms. Valentine incurred the following employment-related expenses during 2022. months of the year. Ms. Valentine pays her annual tulition of $6,500. The daughter has net income of 54,600 and has agreed to transfer the maximum tuition credits to her mother. Also living with Ms. Valentine is her 68-year-old father whose net income for 2022 is $7,700. He has supplemented his income for years with his casino winnings, which totalled $10,500 in 2022 . While he does not quallfy for the disability tax credit, he has a physical infirmity that makes him dependent on Mindy Ms. Valentine's employer reimburses all of her meal expenses and one-half of her hotel expenses. No other expenses were reimbursed. 3. In March 2021. Ms. Valentine was granted options to acquire 5,000 of her employer's common shares at an option price of $24 per share. This was also the FMV of the shares at the time. In July 2022, Ms. Valentine exercises all of the options at a time when the shares were trading at $29 per share. She continues to own the shares on December 31, 2022 4. In 2022, Ms. Valentine donates cash of $1,900 to a variety of registered charities. 5. Also, in 2022, Ms. Valentine donates $315 to each of the three federa nolitieal parties for a total of $945. 6. In 2022, Ms. Valentine pays for the following eligible medical costs. Requirements A. Determine Ms Valentine's minimum 2022 net income B. Determine Ms. Valentine's minimum 2022 taxable income. C. Based on your answer in Requirement B, determine Ms. Valentine's federal income tax payable or refund for 2022 . Indicate any carry forwards available to her and her dependents. Ignore any amounts that might have been withheld by her employer or paid in instalments. View the other information. Withholdings Read the reguirements. Requirement A. Detemine Ms. Valentine's minimum 2022 net income. (Round your answers to the nearest whole doilar.) Other Information 1. Ms. Valentine is provided with an automoblle by her employer. In 2022 , it is Ms. Valentine's Family Information driven 47,800 kilometres, of which 42,300 are for employment purposes and 5,500 for personal use. The automobile is leased by the employer at a monthly rate of $733, including GST of $29 and PST of $53. The monthly rate also includes a Ms. Valentine is divorced and has custody of her two children. They are aged 12 payment for insurance of $55 per month The automobile was used by Ms. and 17 . The 12 -year-old son has 2022 net income of 52,420 . Valentine for 11 months during 2022 . She was required to return the automobile to her employer's garage during the month that she did not use it. The 17 -year-old daughter is in full time attendance at a university during eight 2. Ms. Valentine incurred the following employment-related expenses during 2022. months of the year. Ms. Valentine pays her annual tulition of $6,500. The daughter has net income of 54,600 and has agreed to transfer the maximum tuition credits to her mother. Also living with Ms. Valentine is her 68-year-old father whose net income for 2022 is $7,700. He has supplemented his income for years with his casino winnings, which totalled $10,500 in 2022 . While he does not quallfy for the disability tax credit, he has a physical infirmity that makes him dependent on Mindy Ms. Valentine's employer reimburses all of her meal expenses and one-half of her hotel expenses. No other expenses were reimbursed. 3. In March 2021. Ms. Valentine was granted options to acquire 5,000 of her employer's common shares at an option price of $24 per share. This was also the FMV of the shares at the time. In July 2022, Ms. Valentine exercises all of the options at a time when the shares were trading at $29 per share. She continues to own the shares on December 31, 2022 4. In 2022, Ms. Valentine donates cash of $1,900 to a variety of registered charities. 5. Also, in 2022, Ms. Valentine donates $315 to each of the three federa nolitieal parties for a total of $945. 6. In 2022, Ms. Valentine pays for the following eligible medical costs. Requirements A. Determine Ms Valentine's minimum 2022 net income B. Determine Ms. Valentine's minimum 2022 taxable income. C. Based on your answer in Requirement B, determine Ms. Valentine's federal income tax payable or refund for 2022 . Indicate any carry forwards available to her and her dependents. Ignore any amounts that might have been withheld by her employer or paid in instalments

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