For each of the years listed, indicate which property is designated as a principal residence Sharon Sutherland

  For each of the years listed, indicate which property is designated as a principal residence

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Sharon Sutherland owned a home in Toronto, Ontario, a ski chalet in Whistler, British Columbia, and a condominium in Florida, U.S., until June 15, 2022, when she sold all three properties and moved into a seniors' residence. She provides the following information with respect to the properties: Property Home Condo Chalet Year acquired 2013 2020 2016 Cost $200,000 250,000 120,000 Selling price(net of commission and other selling costs) $ 700,000 400,000 330,000 For the years that Sharon owned each property, she ordinarily inhabited it at some time in the year. She tended to spend the winter in Florida, the summer in Toronto, and the fall in Whistler. Required: a. Determine the minimum taxable capital gain to be reported by Sharon on the sale of the three properties. Sharon Sutherland owned a home in Toronto, Ontario, a ski chalet in Whistler, British Columbia, and a condominium in Florida, U.S., until June 15, 2022, when she sold all three properties and moved into a seniors' residence. She provides the following information with respect to the properties: Property Home Condo Chalet Year acquired 2013 2020 2016 Cost $200,000 250,000 120,000 Selling price(net of commission and other selling costs) $ 700,000 400,000 330,000 For the years that Sharon owned each property, she ordinarily inhabited it at some time in the year. She tended to spend the winter in Florida, the summer in Toronto, and the fall in Whistler. Required: a. Determine the minimum taxable capital gain to be reported by Sharon on the sale of the three properties.

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