Margaret named her nephew, Bernard, as the beneficiary of her RRSP. When Margaret died, the assets...

 

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Margaret named her nephew, Bernard, as the beneficiary of her RRSP. When Margaret died, the assets in her RRSP had a fair market value of $115,000. This amount was transferred to her nephew's RRSP. What were the tax consequences of this transfer? O a) The entire $115,000 was taxed at Margaret's marginal tax rate. Ob) The entire $115,000 was taxed at Bernard's marginal tax rate. Oc) The funds are not subject to tax until Bernard withdraws them from his RRSP. Od) The transfer was tax-deferred because it was transferred from one RRSP directly to another RRSP Margaret named her nephew, Bernard, as the beneficiary of her RRSP. When Margaret died, the assets in her RRSP had a fair market value of $115,000. This amount was transferred to her nephew's RRSP. What were the tax consequences of this transfer? O a) The entire $115,000 was taxed at Margaret's marginal tax rate. Ob) The entire $115,000 was taxed at Bernard's marginal tax rate. Oc) The funds are not subject to tax until Bernard withdraws them from his RRSP. Od) The transfer was tax-deferred because it was transferred from one RRSP directly to another RRSP

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