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What is the minimum taxable income

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Question - Solis Enterprises Inc. operates two separate lines of business - a fashion design business and an investment firm. During the year ended December 31, 2019, the company lost $3 million from the fashion design business and earned a profit of $1 million from the investment firm. The $2 million non-capital loss could not be carried back, and as a result it was carried forward. On January 1, 2020, Solis Enterprises Inc. is acquired by another company. During the 2020 year, the fashion design business lost $1.5 million while the investment firm earned $4 million. What is the minimum taxable income for 2020?

Reference no: EM132504780

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