Assume today is Feb 11th of Year 3. You have the following information: Year 1 $...

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Assume today is Feb 11th of Year 3. You have the following information: Year 1 $ 1,400 Contribution on Jan 19 Contribution on July 4 Beg of year undeducted contributions Beg of year unused deduction room Pension adjustment Pension adjustment reversal Past service pesion adjustment Earned income RRSP Dollar Limit $ 8,430 $ 11,000 $ 4,460 $ 2,303 $3,402 $- $ 154,000 $ 24,000 Year 2 $- $ 9,855 $8,710 $ 3,830 $ 2,793 S- $1,144 $ 68,000 $ 24,500 Year 3 $ 6,505 S- $- $- $ 25,000 How much could the taxpayer contribute today and have it all be deductible on the Year 2 tax return? Assume today is Feb 11th of Year 3. You have the following information: Year 1 $ 1,400 Contribution on Jan 19 Contribution on July 4 Beg of year undeducted contributions Beg of year unused deduction room Pension adjustment Pension adjustment reversal Past service pesion adjustment Earned income RRSP Dollar Limit $ 8,430 $ 11,000 $ 4,460 $ 2,303 $3,402 $- $ 154,000 $ 24,000 Year 2 $- $ 9,855 $8,710 $ 3,830 $ 2,793 S- $1,144 $ 68,000 $ 24,500 Year 3 $ 6,505 S- $- $- $ 25,000 How much could the taxpayer contribute today and have it all be deductible on the Year 2 tax return?

Answer rating: 100% (QA)

To determine how much the taxpayer could contribute today and have it all deductible on the Year 2 t... View the full answer