$1.$ On January $1,2023,$ Geoffrey purchased $2250$ shares of Ted Ltd$.$ at $$22$ per share and $575$ shares at $$32$ per share on February $5,2023.$ He sold $265$ of these shares on July $20,2023$ at $$23$ per share.

$2.$ On September $30,2023,$ he purchased an additional $875$ shares of Ted. Ltd$.$ at $$29$ per share. On December $30,2023,$ he sold $293$ Ted Ltd$.$ shares at $$65$ per share.

$3.$ Geoffrey owns $3300$ shares of Baxter Ltd$.$ with an adjusted cost base of $$14$ per share. On May $15,2023,$ he sells all $3300$ Baxter Ltd$.$ shares at $$7$ per share. On May $20,2023,$ he acquires $1295$ shares of Baxter Ltd$.$ at a cost of $$4$ per share and is still holding these shares at the end of the year.

$4.$ On July $6,2023,$ Geoffrey sells a capital property $(28$ Malpass Road$)$ with an adjusted cost base of $$135000$ for proceeds of disposition of $$372000.$ In $2023,$ he receives $$80,000$ in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid in full $($$$292000)$ in five years. Assume that Geoffrey deducts the maximum capital gains reserve.

$5.$ In October, $2022,$ Geoffrey sold a different capital property $(17$ Greenview Ave$)$ with an adjusted cost base of $$110000$ for proceeds of disposition of $$206000.$ In $2022,$ he received $$75,000$ in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid at the rate of $$2,500$ per year beginning in $2023,$ until it is fully repaid. He receives the $2023$ payment of $$2,500$ in full. Assume that Geoffrey deducts the maximum capital gains reserve in both $2022$ and $2023.$

$6.$ Geoffrey purchased his first home in London, Ontario in $2012$ at a cost of $$51000.$ In $2016,$ he also purchased a cottage in Muskoka for $$100000.$ In November, $2023,$ both properties are sold, the house for $$195000$ and the cottage for $$181000.$ Both of these properties can qualify as a principal residence for him. He will designate the principal residence exemption in such a way that will minimize the taxable capital gains that he must report on the sale of these two properties.

$7.$ Geoffrey owned a personal sailboat with an adjusted cost base of $$33500.$ He sold it for $$74500$ in October $2023.$

$8.$ Geoffrey personally owned an oil painting that he purchased many years ago for $$350.$ He sold it for $$8100$ in June $2023.$

$9.$ Geoffrey kept a bench on the front porch of his home which cost him $$1600$ several years ago. He sold it for $$160$ in January $2023.$

Required: Determine the total net taxable capital gains included in paragraph $3($b$)$ of Mr$.$ Guo's divison B income. Respond on $"$P$3-$ Response" tab. Final answers for each line item should be typed into the yellow boxes. Please show all your backup work in the designated green space for full marks.

Answer rating: 100% (QA)

Answer To determine the total net taxable capital gains included in paragraph 3b of Mr Guos Division ... View the full answer