An individual sold a cottage used to earn rental income for $55,000 (cost $50,000), furniture for $2,000

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An individual sold a cottage used to earn rental income for $55,000 (cost $50,000), furniture for $2,000 (cost $3,000), jewelry for $10,000 (cost $8,000) and stamps $2,000 (cost $5,000). What would be the amount of the taxable capital gain?

Posted Date: Oct 30, 2021 10:53 PM

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An individual sold a cottage used to earn rental income for $55,000 (cost $50,000), furniture for $2,000

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Gain on sale of cottage 55000 50000 5000 Gain on sale of furniture 2000 3000 1000 ... View the full answer

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