The building, w hich cost $464,309 in 2013, w as sold for $260,000. It w as the only building in Class 1 MB at the time of its sale. The underlying land w as sold for proceeds equal to the original cost. Chazerai Ltd purchased a new building in August 2018 for $600,000

Answer rating: 100% (QA)

A schedule of max deductions for tax purposes available for Year 2020 Finally Th... View the full answer