Question: Tinas T1 form. The form must be prepared manually, either by hand or typed 1. Tina Taxpayer is a 39-year old resident of Richmond with

 Tinas T1 form. The form must be prepared manually, either by

Tinas T1 form. The form must be prepared manually, either by hand or typed

1. Tina Taxpayer is a 39-year old resident of Richmond with three children: Abigail at age 13, Ben age 10 , and Cassey age 5. 2. Tina is divorced from her ex-husband Tim and has full custody of their three children. 3. During the year, Tina receives from Tim spousal support of $12,000 and child support of $20,000. 4. Tina is an executive at ABC Ltd. Her current year's T4 reports employment income of $100,000 (including bonus of $8,500 and taxable employment benefits of $2,300 ), income taxes withheld of $12,000, CPP contribution of $3,500, El contribution of $953, RPP contribution of $7,000. In addition, Tina contributes $1,100 to her RRSP. You may assume her RRSP contribution is fully deductible this year. 5. Tina is also an avid photographer. In her spare time, Tina works as a contract photographer for a studio specializing in weddings. She received $6,300 from the studio and incurred $360 of direct expenses. 6. Tina owns a 500-feet condo in Richmond which she rents out for $1,500 a month. Rental expenses for the year total $9,290. 7. During the year, Tina paid $500 tuition for a course "Easy Conversations in German" at a local university, in preparation for a vacation in Germany later next year. She also paid tuition of $4,200 for Abigail to attend private school. Ben attends public school at no cost. 8. Cassey unfortunately has a severe and prolonged disability, which is certified as such by a medical doctor with form T2201. None of the children has any income. 9. When Tina is at work, she puts Cassey at a special daycare at a cost of $6,600 for the year. In addition, she hires her neighbour Deedee for two hours a day to look after Abigail and Ben and get dinner started before Tina gets home. During the year Tina pays Deedee a total of $9,200 in cash. 10. Tina has a non-capital loss carryforward of $555 from last year which she would like to use if possible. 11. Medical expenses incurred during the year are: teeth-straightening braces for Abigail of $3,500; prescription sunglasses for Tina of $250; and travel medical insurance premium of $345 for a family trip to Mexico. 12. Tina donated $800 to the Children's Hospital and $200 to a registered candidate in the provincial election

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!