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What is the minimum taxable capital gain

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Question - Jeff disposed of two residential properties during the year. The details of the dispositions are as follows:

 

Proceeds

Cost

Years Owned

Cottage

$550,000

$250,000

2015-2019

House

$750,000

$300,000

2010-2019

Required - What is the minimum taxable capital gain that must be included in Jeff's 2019 personal tax return?

(a) $67,500

(b) $45,000

(c) $30,000

(d) $15,000

Reference no: EM132998753

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