Wesley should report both the dividends and the capital gain.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Vivian gave her 16-year-old son Wesley, several shares of Telus, a taxable Canadian corporation. During the year, Wesley received eligible dividends of $300 from Telus. He sold some of
Who should report the dividends, and who should report the capital gain?
Vivian should report both the dividends and the capital gain.
Wesley should report both the dividends and the capital gain.
Wesley should report the dividends and Vivian should report the capital gain.
Vivian should report the dividends and Wesley should report the capital gain.
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