1. All losses are generally allowed to be carried back to the _____________ preceding income that taxes have been paid on. Fill the blank space with the number of years losses are allowed to be carried back.

2. ___________ and __________ are examples of a depreciable asset, while ____________ and ____________ are examples of non-depreciable assets that can be used to generate business or property income.

3. Give four examples of the types of income from property or investment: _________, __________, _____________ and ______________.

4. Mr. D purchased 2,000 units of a private companys shares for $45,000 in 2020. If he sold the 2,000 units for $60,000 in 2021. What is the capital gain or loss on his disposition in 2021? ____________