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Which items would be deducted in converting net income

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Problem 1: Which of the following items would be deducted in converting Net Income For Tax Purposes to Taxable Income?

Option 1: A deduction for the extra costs related to living in prescribed areas of the Canadian north.

Option 2: A deduction for spousal support payments made during the year.

Option 3: Current year allowable capital losses in excess of current year taxable capital gains.

Option 4: Current year business losses in excess of other positive sources of income.

Reference no: EM132614024

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