Lecture 3 Solution to Assignment Problem 7-13

Lecture 3 Solution to Assignment Problem 7-13 - 1993 to...

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Solution to Assignment Problem Seven - 13 Change Facts: Cottage purchased in 1996 instead of 1993 City Home Cottage Proceeds Of Disposition $528,000 $330,000 Adjusted Cost Base ( 264,000) ( 36,000) Real Estate Commissions ( 32,000) ( 16,000) Total Gain $232,000 $278,000 # of years owned
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Unformatted text preview: 1993 to 2009 1996 to 2009 17 14 Gain per year $13,647 $19,857 # years to designate as PR 4 13 93-96 97-09 Exemption: City Home [$232,000][(4 + 1) 17] ( 68,235) Cottage [$278,000][(13 + 1) 14] ( 278,000) Capital Gain (gain PRE) $163,765 Nil...
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This note was uploaded on 03/25/2011 for the course ADMS 3520 taught by Professor S during the Summer '09 term at York University.

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