Helene died on November 30, 2021. On that date, she owned marketable securities with a fair market value of $100,000 and
Posted: Tue Apr 26, 2022 10:15 am
Helene died on November 30, 2021. On that date, she owned
marketable securities with a fair
market value of $100,000 and an adjusted cost base of $40,000. She
also owned an unmatured
registered retirement savings plan (RRSP) of $250,000. During 2021
she had received interest
income of $8,000 on a matured term deposit. The matured funds were
in her bank account at the
time of her death, not earning any interest. She received total
salary of $95,000 for 2021 up to
and including the amount paid into her bank account on November 30,
2021 for her November
wages. By the terms of her will the marketable securities were
given to her 19-year-old son and
the RRSP to her spouse.
How much would be reported in Helene’s income for 2021? What is the
filing deadline and balance
due date for Helene’s 2021 income tax return?
marketable securities with a fair
market value of $100,000 and an adjusted cost base of $40,000. She
also owned an unmatured
registered retirement savings plan (RRSP) of $250,000. During 2021
she had received interest
income of $8,000 on a matured term deposit. The matured funds were
in her bank account at the
time of her death, not earning any interest. She received total
salary of $95,000 for 2021 up to
and including the amount paid into her bank account on November 30,
2021 for her November
wages. By the terms of her will the marketable securities were
given to her 19-year-old son and
the RRSP to her spouse.
How much would be reported in Helene’s income for 2021? What is the
filing deadline and balance
due date for Helene’s 2021 income tax return?