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#2(10 MARKS) Max disposed of two residential properties during the year. The details of the dispositions are as follows: Proceeds. .Cost.. .Years Owned $1,100,000... ..$1,500,000..
#2(10 MARKS) Max disposed of two residential properties during the year. The details of the dispositions are as follows: Proceeds. .Cost.. .Years Owned $1,100,000... ..$1,500,000.. ..$500,000.. .$600,000... .2017-2021 .2012-2021 Cottage... House.. The following additional costs would be incurred to sell the property:- Required:- -Legal and accounting fees (house). -Real estate commission(house). -Legal and accounting fees(cottage). -Real estate commission(cottage)... .$1,000 .$3,300 ..$650 .$.1,200 What is the minimum taxable capital gain that must be included in Max's 2021 personal tax return
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