Find what mrs blue maximum capital gains deduction

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Reference no: EM132726424

Mrs. Blue sold qualified small business corporation shares in April 2019 for proceeds of $523,000. She inherited the shares in 2004 when her father died. At that time, their value was $138,000. The only other QSBC Taxable capital gain Mrs. Blue of $33,000. She has had was in 2002 when she sold some securities on which she recognized a capital gain sheltered the $33,000 gain entirely with the capital gains deduction. She has not claimed any net capital losses in the past.

She had only one item for Investment Expense:

Investment Interest Expensed on her tax returns to date is $22,000

Problem 1: What is Mrs. Blue's maximum Capital Gains Deduction for this year?

Reference no: EM132726424

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