Karen and Rod Fisher purchased home in 1995 for $255,000 with the current (2022) market value of $1,500,000. In 2006 they purchased a cottage for $122,000. The current (2022) market value for the cottage is $715,000. The mortgage on the home is $715,000 and the mortgage on the property is $124,000.

The capital gains exempted would be $ ?

The total capital gain payable would be $ ?

Answer rating: 100% (QA)

The capital gains exempted and the total capital gain payable can be calculated based on the informa... View the full answer