Ms Norma had experienced a few capital gains and losses, pnior to 2023: In 2016, she had a capital gain of $18,000 This was on the disposition of shares of a qualified small business corporation for which t the ITA 110.6 nfetire capital gains deduction was used to eliminate the taxable amount of these gains. In 2018, she had a capital gain of $54,000 This was on the disposition of shares of a qualified small business corporation for which the ITA 110 6 lifetime capital gains deduction was used to eliminate the taxable amount of these gains. Ms. Norma Lies also has a net capital loss carry-forward balance of $30,000, resulting from a 2019 capital loss of $60,000. She intends to deduct this carry forward in 2023 8 points Save Answer Ms. Noma Lies has never expenienced a a Business Investment Loss (BIL). Duning 2023, Ms Norma Lies has a $743,000 captal gain on the sale of shares in a qualifhed small business corporation. 

REQUIRED Determine Ms Norma Lies' maximum lifetime capital gains deduction for 2023 . The maximum lifetime capital gain?

Answer rating: 100% (QA)

To determine Ms Norma Lies maximum lifetime capital gains deduction for 2023 we need to consider her ... View the full answer