CONTRIBUTIONS:(LARRY AND LINDA) Charities: UNITED WAY - $1,500; Hospital for Sick Kids-$7,000 QUALIFIED FEDERAL POLITICAL PARTY...
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CONTRIBUTIONS:(LARRY AND LINDA) Charities: UNITED WAY - $1,500; Hospital for Sick Kids-$7,000 QUALIFIED FEDERAL POLITICAL PARTY DONATION- $4,000 QUALIFIED MEDICAL EXPENSES - $10,000 (LINDA) CHILD CARE EXPENSE (2022) - $5,000 (NANNY) USE ANY NAME AND ADDRESS. Please ensure that you are backing up your file on a USB Stick or in your Cloud Storage. (Hint: Prior to submitting, please re-do the Medical and Charity Credit) REQUIRED: Using Cantax T1-Current, Calculate the Couples "MINIMUM" INCOME TAX PAYABLE for Larry and Linda Please submit in PDF (as reviewed in class) the following for submission: COMBINED TAX SUMMMARY (LARRY AND LINDA-1pg) (This will be your cover page-full page!) BUSINESS INCOME AND EXPENSES (LARRY)-T2125, Pages 3 & 4 Only RENTAL INCOME AND EXPENSES (LINDA)-T776, Pages 2 & 3 Only CAPITAL GAINS (LARRY AND LINDA)-Sched 3 Pages 1 & 2 DETAILED TAX CALCULATION (T1-page 6-7) Schedule 1 Federal (LARRY AND LINDA) CONTRIBUTIONS:(LARRY AND LINDA) Charities: UNITED WAY - $1,500; Hospital for Sick Kids-$7,000 QUALIFIED FEDERAL POLITICAL PARTY DONATION- $4,000 QUALIFIED MEDICAL EXPENSES - $10,000 (LINDA) CHILD CARE EXPENSE (2022) - $5,000 (NANNY) USE ANY NAME AND ADDRESS. Please ensure that you are backing up your file on a USB Stick or in your Cloud Storage. (Hint: Prior to submitting, please re-do the Medical and Charity Credit) REQUIRED: Using Cantax T1-Current, Calculate the Couples "MINIMUM" INCOME TAX PAYABLE for Larry and Linda Please submit in PDF (as reviewed in class) the following for submission: COMBINED TAX SUMMMARY (LARRY AND LINDA-1pg) (This will be your cover page-full page!) BUSINESS INCOME AND EXPENSES (LARRY)-T2125, Pages 3 & 4 Only RENTAL INCOME AND EXPENSES (LINDA)-T776, Pages 2 & 3 Only CAPITAL GAINS (LARRY AND LINDA)-Sched 3 Pages 1 & 2 DETAILED TAX CALCULATION (T1-page 6-7) Schedule 1 Federal (LARRY AND LINDA)
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