Ms. Gamma sold a capital property for $200,000 on December 31, 2016. Of that price, $180,000 was

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Ms. Gamma sold a capital property for $200,000 on December 31, 2016. Of that price, $180,000 was not due until December 2017. The adjusted cost base of the property was $130,000 and the selling costs were $20,000.

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Determine the taxable capital gain for 2016 and 2017 using the capital gains reserve provision.

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Introduction To Federal Income Taxation In Canada 2016-2017

ISBN: 9781554968725

37th Edition

Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett

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Question Posted: Aug 02, 2023 03:34 AM

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Ms. Gamma sold a capital property for $200,000 on December 31, 2016. Of that price, $180,000 was

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Proceeds of disposition Adjusted Cost Base Expenses of disposition Gain Less 2016 Reserve l...View the full answer

Introduction To Federal Income Taxation In Canada 2016-2017

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