2020 Tax Return: T1 Jacket Data Entry Exercise:

Raymond W. Chase who is divorced was born October 25, 1956 and has no

dependents. His SIN

social insurance number

is 111-333-444.

Mr. Chance resides at 865 Realtor Crescent, Home Town, Ontario, M6N 4J4. His

home phone number is 298-999-1234, cell 298-444-4321.

He is retired, receiving a pension from his former employer. He applied for and is

receiving early CPP income. He supplements his pension income with income from

his investments, a 3-day a week part-time job and income from a rental property.

His Income and deductible expenses are as follows:

(losses are indicated with brackets)

Part-time employment income

$15,800

Pension from former employer

$44,675

CPP

$9,875.45

Taxable dividend from Canadian corporation

$1,045.50

Interest Income

$976.80

Net Rental income

($2,345.55)

Total capital gains

$4,345.78

He made fully deductible RRSP contribution

$11,000

He still maintains his union membership and pays dues

$396.00

Deductible spousal support to former spouse

$4,800

He has capital losses of other years

$765.93

Use this information to complete Mr. Chase's 2020 T1 Jacket making sure to

calculate Total Income, Net Income & Taxable Income