Solution-Which amounts represents minimum taxable capital

Which amounts represents minimum taxable capital gain

Reference no: EM132686811

Question - Lambda sold a capital property on October 31, 2011 for $200,000 with a cash down payment of $15,000. The balance of $185,000 is payable on October 31, 2015. The adjusted cost base of the property was $115,000 and the selling costs were $7,000. Which one of the following amounts represents the minimum taxable capital gain (rounded to the nearest dollar) in 2011?

Reference no: EM132686811

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Which amounts represents minimum taxable capital gain

Reference no: EM132686811

Reference no: EM132686811

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