During the year, Sheila sold two capital assets during the year that she used in her business.She sold capital asset A for proceeds of $11610 and capital asset B for proceeds of $4467. Capital asset A had originally cost her $6195 whereas capital asset B had cost her $5897.

What is the amount of her net TAXABLE capital gain balance of the net income calculation for the year?

Answer rating: 100% (QA)

To calculate the net taxable capital gain we need to first calculat... View the full answer