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  3. 1.b sold capital property in the current year for

1.B sold capital property in the current year for net proceeds of $800,000. The property...

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Accounting

1.B sold capital property in the current year for net proceeds of $800,000. The property has an adjusted cost base of $300,000. B received $500,000 at the time of the sale and a note for the balance to be paid in equal annual instalments over the following three years. What is the minimum taxable capital gain to be reported in the current year? 2.

$M acquired a home in 2015 for $300,000 and a cottage in 2019 for $200,000. In 2022 M sold the home for $700,000 and the cottage for $500,000. What is the minimum amount to be reported in net income for tax purposes in 2022? $

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