Ellen moved to canada on April 30th, 2021. Ellen was born and raised in France and moved to Canada to start a career in dance. Ellen earned $45,000 from May to December in 2021 from the dance company. Ellen earned $10,000 of employment income from January to March in 2021 while still living in France, and also received $1,000 in dividends in March 2021 and $1,000 in dividends in September 2021 from stocks in a French company. Ellen's parents e-transferred $2,000 as a gift for Ellen's 29th birthday in August 2021. b) How much income is Ellen required to report for the 2021 tax year? c) Explain why any items have been excluded from your calculations.
Ellen moved to canada on April 30th, 2021. Ellen was born and raised in France and moved to Canada to start a career in dance. Ellen earned $45,000 from May to December in 2021 from the dance company. Ellen earned $10,000 of employment income from January to March in 2021 while still living in France, and also received $1,000 in dividends in March 2021 and $1,000 in dividends in September 2021 from stocks in a French company. Ellen's parents e-transferred $2,000 as a gift for Ellen's 29th birthday in August 2021. b) How much income is Ellen required to report for the 2021 tax year? c) Explain why any items have been excluded from your calculations.
Chapter6: Business Expenses
Section: Chapter Questions
Problem 88DC
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Ellen moved to canada on April 30th, 2021. Ellen was born and raised in France and moved to Canada to start a career in dance. Ellen earned $45,000 from May to December in 2021 from the dance company. Ellen earned $10,000 of employment income from January to March in 2021 while still living in France, and also received $1,000 in dividends in March 2021 and $1,000 in dividends in September 2021 from stocks in a French company. Ellen's parents e-transferred $2,000 as a gift for Ellen's 29th birthday in August 2021.
b) How much income is Ellen required to report for the 2021 tax year?
c) Explain why any items have been excluded from your calculations.
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