Individual A owns shares of a Canadian-controlled private corporation. Asmall business deduction. The shares are valued at $400,000 and have aredeems the shares and A receives $400,000. What amount is included ontrolled private corporation. All of the corporation's past income has been eligible for thevalued at $400,000 and have an ACB and PUC of $160,000. In 2020, The corporation,000. What amount is included in A's taxable income?

Taxable income is the income which will be taxed by the government. It is the income that is used to…

Answered: ontrolled private corporation. All of…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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ontrolled private corporation. All of the corporation's past income has been eligible for the valued at $400,000 and have an ACB and PUC of $160,000. In 2020, The corporation 000. What amount is included in A's taxable income?