On April 1, 2020, Angela contributed $25,000 to her RRSP account. During the year 2020,...
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On April 1, 2020, Angela contributed $25,000 to her RRSP account. During the year 2020, she was employed by a large public company and also contributed to her employer's registered pension plan, along with her employer. For 2020, Angela contributed $10,000 to her employer's pension plan and the employer contributed $15,000. At the beginning of 2020 Angela had no unused RRSP Deduction Room and no undeducted RRSP contributions. Angela's Earned Income for 2020 is $200,000 and her pension adjustment for 2020 is $25,000. Angela also provides you with her information for the previous year: her Earned Income for 2019 was $150,000 while her pension adjustment was $20,000. What is the maximum RRSP deduction Angela can take for 2020 based on the information given above? A. None of the choices shown B. $7,230 C. $1,500 D. $27,230 E. $7,000 F. $52,230 G. $6,500 H. $2,230
On April 1, 2020, Angela contributed $25,000 to her RRSP account. During the year 2020, she was employed by a large public company and also contributed to her employer's registered pension plan, along with her employer. For 2020, Angela contributed $10,000 to her employer's pension plan and the employer contributed $15,000. At the beginning of 2020 Angela had no unused RRSP Deduction Room and no undeducted RRSP contributions. Angela's Earned Income for 2020 is $200,000 and her pension adjustment for 2020 is $25,000. Angela also provides you with her information for the previous year: her Earned Income for 2019 was $150,000 while her pension adjustment was $20,000.
What is the maximum RRSP deduction Angela can take for 2020 based on the information given above?
A. None of the choices shown
B. $7,230
C. $1,500
D. $27,230
E. $7,000
F. $52,230
G. $6,500
H. $2,230
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