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Sam is making his 1st Registered Retirement Savings Plan contribution.he wants to calculate its max and his 2019 personal income tax return ?

It is February 13, 2020 and Sam just turned 18 year’s old (resident of Quebec). He has been working part-time since he was 16 year’s old and is looking at making his first Registered Retirement Savings Plan (RRSP’s) contribution. Before going to the bank tomorrow, he wanted you to calculate the maximum that he could contribute and claim as a deduction on his 2019 personal income tax return  

  

Yannick’s gross salary:   

2018 (16 years old):  $4,000   

2019 (17 years old): $5,000   

2020 (18 years old): $10,000   

  

RRSP annual limits:  

year 2016: $ 25370  

        2017: $ 26010  

2018        :  26230  

2019        :  26500  

2020        :  27230  

  

a) $720    b) $900    c) 2700    d) 3400

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