For the 2017 taxation year, John Bookman had a taxable capital gain of $45,000 and a net
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Question:
For the 2017 taxation year, John Bookman had a taxable capital gain of $45,000 and a net business loss of $45,000, resulting in a Taxable Income of nil. Which of the following statements is correct?
A. John is not required to file a tax return for 2017.
B. John must file a tax return on or before June 15, 2018
C. John must file a tax return on or before December 31, 2018.
D. John must file a tax return on or before April 30, 2018.
Related Book For
South Western Federal Taxation 2020 Corporations, Partnerships, Estates and Trusts
ISBN: 9780357109168
43rd edition
Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney
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