In 2022, Nancy receives a pension income of $52,000. She also receives OAS ($8,000) and CPP ($9,000). Nancy's husband, Justin, has a pension benefit of $37,000 and receives OAS (6,000) and CPP ($12,000). If Nancy and Justin split as much income as possible, how much income will each report on their 2022 tax returns?

Nancy will report $63,000 and Justin will report $61,000.

Nancy will report $69,000 and Justin will report $55,000.

Nancy will report $62,000 and Justin will report $62,000.

Nancy will report $61,500 and Justin will report $62,500.

Answer rating: 100% (QA)

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