In 2009, Glenn Is Allowed to Contribute $5,000 to a TFSA.He

question 81

Multiple Choice

In 2009, Glenn is allowed to contribute $5,000 to a TFSA.He contributes $2,000 for that year.If he withdraws $1,000 the same year from the TFSA account, the following year:

• A)$3,000 contribution room is added to the 2010 TFSA limit
• B)the TFSA limit for 2010 is unchanged
• C)the TFSA limit for 2010 is reduced by $1,000
• D)$4,000 contribution room is added to the 2010 TFSA limit
• E)$1,000 is added to taxable income for 2010

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