Martha has a net capital loss of $20,000 and other ordinary taxable income of $45,000 for the

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Martha has a net capital loss of $20,000 and other ordinary taxable income of $45,000 for the current tax year.

What is the amount of Martha's taxable income after deducting the allowed capital loss?

A. $28,000

B. $38,000

C. $42,000

D. $45,000

E. None of the above

Related Book For answer-question

Canadian Income Taxation planning and decision making

ISBN: 9781259094330

17th edition 2014-2015 version

Authors: Joan Kitunen, William Buckwold

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Posted Date: Jan 11, 2021 07:54 PM

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Martha has a net capital loss of $20,000 and other ordinary taxable income of $45,000 for the

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3000 of the net capital loss is allowed as a ... View the full answer

Canadian Income Taxation planning and decision making

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