prob036 - 4,000 Low-interest loan benefit 2,500 32,500...

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Problem 36 (Text: Ch. 9) Ms. Antibellum, a single parent, supports her three children, ages 3, 6, and 11, who live with her. Ms. Antibellum paid the following amounts in respect of care of the children during 2008: Babysitting services — local independent person during her working days $8,000 Babysitting during certain evenings and weekends 1,200 Camp fees for 3 weeks for children ages 6 and 11 2,700 Ms. Antibellum provides you with her sources of income for tax purposes: Employment income Gross salary $26,000 Stock option
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Unformatted text preview: 4,000 Low-interest loan benefit 2,500 32,500 Registered pension plan contribution (3,200 ) 29,300 Share of partnership income from a retail store 7,000 Rental of a basement apartment 9,000 Support payments received in respect of the children 18,000 Interest income 5,000 $68,300 Required : (i) Determine the maximum child care deduction for Ms. Antibellum for 2008. Show all parts of the calculation. (ii) Explain why you excluded any of the above amounts in your calculation (i), above....
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