P realized the following gains and losses in the current year: Gain on sale...
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Accounting
P realized the following gains and losses in the current year:
Gain on sale of public company shares $20,000
Gain on sale of listed personal property 2,000
Gain on sale of personal-use property 1,000
Loss on sale of small business corporation shares (5,000)
Loss on sale of listed personal property (3,000)
Loss on sale of personal-use property (5,000)
What is the amount of net taxable capital gains to be reported for the current year [ITA 3(b)]?
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