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QID: #29179
Solution for QID #29179: For the 2019 taxation year, Ahmed made RRSP contributions of | StudyHelpMe
For the 2019 taxation year, Ahmed made RRSP contributions of $3,000. This is his first RRSP contribution, and his RRSP deduction limit for 2019 is $120,000. His earned income for 2019 is $145,700. He also had a pension adjustment in 2019 of $7000. The annual deduction limits according to the CRA for 2019 are $26500 and 2020 is $27230.
Compute his 2020 estimated RRSP deduction limit for 2020.
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