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What is the minimum amount to be reported in net income

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problem 1: Canadian Taxation: M acquired a home in 2013 for $410,000 and a cottage in 2017 for $350,000. In 2020 M sold the home for $950,000 and the cottage for $750,000. What is the minimum amount to be reported in net incomefor tax purposes in 2020?

Reference no: EM132781261

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