Shelly just graduated from Concordia in December 2022 and started her full-time employment as of...
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Accounting
Shelly just graduated from Concordia in December 2022 and started her full-time employment as of January 2023. She has asked you to help her calculate her taxable income for 2023 based on the following:
Employment income (gross): $72,000
Interest income: $500
Unused tuition carry over from 2022: $6,000
Engineering professional dues: $1,200
Annual union dues: $550
RRSP contribution: $3,000
TFSA contribution: $2,000
Sold 300 shares in XYZ company at $32 per share on January 10, 2023 (paid a total of $8,700 for 600 shares when she purchased them in 2022)
Net capital loss from other years of $1,400
a)$66,525
b)$61,525
c)$68,975
d)$68,700
e)$66,975
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