Anna Osinski acquired a townhouse unit in 2020 for $132,000(land $10,000, building $122,000). She bought...
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Accounting
Anna Osinski acquired a townhouse unit in for $land $ building $ She bought the unit in order to rent it By the end of the undepreciated capital cost of the building was $ In August Anna decided to live in the unit herself. At that time, similar townhouses were selling for $land $ building $ Prior to August, her net rental income before capital cost allowance was $ In September Anna purchased, for rental purposes, a residential condominium unit for $land $ building $ Between September and the end of the taxation year, the condo earned net rentals of $ before capital cost allowance. Required: Determine the Change to Anna's net income for tax purposes as a result of the above activity.
Anna Osinski acquired a townhouse unit in for $land $ building $ She bought the unit in order to rent
it By the end of the undepreciated capital cost of the building was $ In August Anna decided to live in the unit
herself. At that time, similar townhouses were selling for $land $ building $ Prior to August, her net
rental income before capital cost allowance was $
In September Anna purchased, for rental purposes, a residential condominium unit for $land $ building
$ Between September and the end of the taxation year, the condo earned net rentals of $ before capital cost
allowance.
Required:
Determine the Change to Anna's net income for tax purposes as a result of the above activity.
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