In 2020, an individual realized a $900,000 capital gain from the sale of qualified small business corporation shares (Q5BC). The individual had a cumulative net investment loss (CNIL) balance of $40,000 at the end of 2020.A capital gains deduction (CGD) of $50,000 was claimed in 2018 against a $50,000 taxable capital gain from QSBC shares. What is the maximum CGD in 20207 Multiple Choice $391692 $410,000 $441,692

In 2020, an individual realized a $900,000 capital gain from the sale of qualified small business corporation shares (Q5BC). The individual had a cumulative net investment loss (CNIL) balance of $40,000 at the end of 2020.A capital gains deduction (CGD) of $50,000 was claimed in 2018 against a $50,000 taxable capital gain from QSBC shares. What is the maximum CGD in 20207 Multiple Choice $391692 $410,000 $441,692

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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