Jason has a non-depreciable property with an adjusted cost base of $151,000. The fair market value of the property is $169,000. Jason sells the property to his son Korey for $164,000. Two years later, Korey sells the property to an unrelated individual for $186,000. How much capital gain will be recognized by each on the sale of the property?

Answer rating: 100% (QA)

Capital gains are figured out by subtracting the adjusted cost base ACB the original cost of the pro... View the full answer