On June $30,2021,$ you received an unsolicited offer to buy your personal residence in Regina, SK$.$ Details on the sale are

below: Proceeds:$$400,000$

Original Purchase Price: $$185,000$ Realtor and Legal Fees to sell:$$6,500$ Year Home Purchased:$2004$ You decided to also sell your cottage near Fort Qu'Appelle, SK so you can retire to your dream home in Alberta. You

accepted an offer for your cottage in Sept, $2021.$ Details on the sale are below:

Proceeds: $,$$$575,000$

Original Purchase Price: $$380,000$

Realtor and Legal Fees to Sell: $,$$$11,500$

Year Home Purchased: $2015$

$$ 

 

REQUIRED:

Determine the minimum net taxable capital gains$/$losses on the disposal of the above properties. You have

used both properties on a regular basis. Assume two years of exemption were already used $(2007+2008)$ for

a personal property that was disposed of in a prior tax year.