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Calculate Mary net capital gain

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Question - During the income year, Mary made the following capital gains:

a. Capital gain of $20,000 on the sale of his shares in X Co (this is not a discount capital gain)

b. Capital gain of $15,000 on the sale of his shares in Y Co (this is a discount capital gain. He is eligible for a 50% discount)

He also made a capital loss of $15,000 on the sale of his land and he has a net capital loss from last year of $1,000.

Required - Calculate Mary's net capital gain?

Reference no: EM132611458

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