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Bad debts on capital property example: During 2019, a capital property with an adjusted cost base of $131,000 is sold for $115,000. The proceeds of

Bad debts on capital property example: During 2019, a capital property with an adjusted cost base of $131,000 is sold for $115,000. The proceeds of disposition are made up of $66,000 in cash, plus the purchasers one-year note for $49,000. In 2020, the note proves to be uncollectible. Required: What are the tax consequences of these events in 2019 and 2020?

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