Aries bought a blast furnace for $15,000 a few years ago. The furnace is the only asset

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Aries bought a blast furnace for $15,000 a few years ago. The furnace is the only asset inn the Capital Cost Allowance (CCA) and the Undepreciated Capital Cost (UCC) at the beginning of the year was $6,000. He sells the furnace for $8,000 during the year. What are the tax implications? Recapture $1,000 Recapture $2,000 terminal loss $7,000 O Terminal loss $1,000

Posted Date: May 18, 2024 11:12 AM

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Aries bought a blast furnace for $15,000 a few years ago. The furnace is the only asset

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