Carmen is the beneficiary of an RESP. She just received an educational assistance payment of $5,000. Prior to the payment, her RESP had investment income of
Carmen is the beneficiary of an RESP. She just received an educational assistance payment of $5,000. Prior to the payment, her RESP had investment income of
Chapter28: Income Taxati On Of Trusts And Estates
Section: Chapter Questions
Problem 16CE
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Question
Correctly explain.
Transcribed Image Text:Carmen is the beneficiary of an RESP. She
just received an educational assistance
payment of $5,000. Prior to the payment,
her RESP had investment income of
$23,000 and a CESG balance of $1,600.
What portion of CESG is paid out in the
EAP amount of $5000? Round all your
calculations to the nearest dollar.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT