During $2020,$ Ms$.$ Alice Busting owns four residential rental properties. Relevant information on

these properties is as follows:

$26$ Hart

Street

$32$ Barton

Boulevard

$14$ Mark

Avenue

$96$ Flagler

Street

CCA Class $1131$

Capital Cost Of Building $$1,180,000$ $$307,500$ $$1,033,750$ $$570,000$

January $1,2020,$ UCC Nil $266,250703,250514,800$

Rental receipts and expenses, not including CCA, for year ending December $31,2020,$ are as

follows:

$26$ Hart

Street

$32$ Barton

Boulevard

$14$ Mark

Avenue

$96$ Flagler

Street

Rental Receipts $$79,500$ $$16,000$ $$63,000$ $ $46,500$

Property Taxes $(17,756)(12,113)(15,500)(18,550)$

Interest Charges $(51,625)(5,250)(30,000)(12,750)$

Other Expenses

$($Not Including CCA$)(4,500)(1,375)(6,750)(10,500)$

Net Rental Income $($Loss$)$

Before CCA $ $5,619($$ $2,738)$ $$10,750$ $ $4,700$

Other Information:

$1.$ The property at $26$ Hart Street was acquired during $2020$ for $$1,180,000.$

$2.$ The building at $32$ Barton Boulevard was sold during $2020$ for $$231,000.$

Ms$.$ Busting had furnished this property several years ago at a cost of $$28,750.$ The UCC

for these Class $8$ assets was $$4,498$ on January $1,2020.$ Given the condition of the

furnishings, they were simply given to the former tenants who agreed to take them when

they moved out.

$3.$ During $2020,$ Ms$.$ Busting spent $$78,750$ on improvements to the property at $14$ Mark Avenue. While none of the changes were required, the tenant insisted on the changes before

he was prepared to renew his lease. These improvements will also enhance the value of

this property.

$4.$ The building at $96$ Flagler Street was sold during $2020$ for $$653,000.$

Required: Calculate Ms$.$ Busting$$s minimum net rental income for $2020.$ You should provide

a separate CCA calculation for each property and specify how much CCA should be taken for

each building. Include in your solution any tax consequences associated with the sale of the two

buildings and the disposition of the furniture.AP $7-2($Rental Income, Including CCA$)$

In $2022,$ Ms$.$ Alice Becker owns four single family residential rental properties. Relevant informa$-$

tion on these properties is as follows:

Other Information:

The property at $26$ Hart Street was purchased in $2022$ for $$1,180,000.$

The property at $32$ Barton Boulevard was sold in $2022$ for $$231,000.$

Ms$.$ Becker had furnished this property several years ago at a cost of $$28,750.$ The UCC for

the class $8$ properties was $$4,498$ on January $1,2022.$ Given the condition of the furnishings,

they were simply given to the former tenants, who agreed to take them when they moved

out.

In $2022,$ Ms$.$ Becker spent $$78,750$ on capital improvements to the property at $14$ Mark Avenue.

While none of the changes were required, the incoming tenant insisted on the changes before

agreeing to the lease. These improvements will enhance the value of this property.

The building at $96$ Flagler Street was sold in $2022$ for $$653,000.$

Required: Calculate Ms$.$ Becker's minimum rental income for $2022.$ You should provide a sepa$-$

rate CCA calculation for each property and specify how much CCA should be claimed for each

building. Include in your solution any income tax consequences associated with the sale of the two

buildings and the furniture. Assume that the rental activity is not a business and that the property

values and costs shown are for the building only.