1. D lent $250,000 to a small business corporation four years ago. At the end of the current year, it was established that none of the loan would be repaid due to financial difficulties. D claimed a capital gains deduction of $100,000 last year. 
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3. What is the maximum allowable business investment loss (ABIL) for the current year?

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To calculate the allowable business investment loss ABIL for the current year we need to follow cert... View the full answer