Last year, Dani maximized her TFSA contribution limit by contributing $30,000 to her TFSA. This year, her contribution limit is $7,000. The $30,000 that Dani contributed last year has grown to $32,000. She contributed nothing this year but withdrew the entire amount of $32,000. Assuming next year's limit is also $7,000 how much can Dani contribute to her TFSA next year?

Last year, Dani maximized her TFSA contribution limit by contributing $30,000 to her TFSA. This year, her contribution limit is $7,000. The $30,000 that Dani contributed last year has grown to $32,000. She contributed nothing this year but withdrew the entire amount of $32,000. Assuming next year's limit is also $7,000 how much can Dani contribute to her TFSA next year?

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter5: Deductions For And From Agi

Section: Chapter Questions

Problem 12P

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