Question: Question 4: 10 Your client has provided you with the following information: 2019 2020 2021 Employment income $20,000 Rental income $11,000 Interest income $22,000 Royalty

Question 4: 10

Your client has provided you with the following information:

2019

2020

2021

Employment income

$20,000

Rental income

$11,000

Interest income

$22,000

Royalty income

$38,000

Earned income

$67,000

Must calculate

PA for the year

$5,000

$8,000

RRSP dollar limit

$26,500

$27,230

$27,830

Unused RRSP contribution room at year end

$2,000

Required:

What is this taxpayers RRSP deduction limit for 2020? If the taxpayer contribution $10,000 into the RRSP on December 31, 2020 did they over contribute? Why / why not?

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