16 Eight years ago Winnie realized a net capital loss in the amount of $75,000 when...

 

Transcribed Image Text:

16 Eight years ago Winnie realized a net capital loss in the amount of $75,000 when the value of her shares in a technology mutual fund plummeted and she opted to divest her interest. To date, Winnie has not been able to make use of these losses. Unfortunately, Winnie died earlier this year. For the year, Winnie had employment income of $25,000, a taxable capital gain of $12,000 and interest income of $2,500. Last year, her employment income was $57,000 and she earned interest income in the amount of $4,800. Assuming Winnie never made use of any lifetime capital gains exemptions, how much of her net capital loss will Winnie's representative be UNABLE to apply? a) $0 b) $35,300 c) $38,000 d) $63,000 16 Eight years ago Winnie realized a net capital loss in the amount of $75,000 when the value of her shares in a technology mutual fund plummeted and she opted to divest her interest. To date, Winnie has not been able to make use of these losses. Unfortunately, Winnie died earlier this year. For the year, Winnie had employment income of $25,000, a taxable capital gain of $12,000 and interest income of $2,500. Last year, her employment income was $57,000 and she earned interest income in the amount of $4,800. Assuming Winnie never made use of any lifetime capital gains exemptions, how much of her net capital loss will Winnie's representative be UNABLE to apply? a) $0 b) $35,300 c) $38,000 d) $63,000

Answer rating: 100% (QA)

Winnie realized a net capital loss of 75000 Last year Winnie had emplo... View the full answer