Sharon Sutherland owned a home in Toronto, Ontario, a ski chalet in Whistler, BC, and a condominium in Florida, USA until June 15, 20X7 when she sold all three properties and moved into a seniors€™ residence. She provided the following information with respect to the properties:

For the years that Sharon owned each property, she ordinarily inhabited it at some time in the year. She tended to spend the winter in Florida, the summer in Toronto, and the fall in Whistler.
Required:
1. Determine the minimum taxable capital gain to be reported by Sharon on the sale of the three properties.
2. How would the answer change if Sharon had moved out of the Toronto home in 20X3 when it was worth $410,000 and earned rental income from the Toronto home from that date until she sold it in 20X7?

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Selling Price (net of commission nd other selling costs) S460,000 $245,000 S336,000 Y ear Property Home Condo Chalet Acquired 20X1 20X2 20X4 Cost S400,000 S200,000 S300,000