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What is the amount of taxable capital gain

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Question - Andy disposed of 1,600 common shares in ABC Inc. late in 2020. The proceeds of disposition on the sale were $35,000 (net of commissions). Before the sale, Andy owned 3,800 ABC shares which he had acquired over the previous three years as follows:

Year Acquired

Total Shares

Amount Paid

2017

1500

$26,200

2018

1200

$21,360

2019

1100

$22,340

Required - What is the amount of taxable capital gain/(loss) to be reported on Andy' 2020 personal tax return?

a. $2,788

b. $3,510

c. $1,880

d. $3,527

Reference no: EM133040141

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