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Can I get some help in working this question? 4 U Problem 3: Chapter 8: Capital Gains G I E 5. In October, 2018, Geoffrey

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Can I get some help in working this question?

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4 U Problem 3: Chapter 8: Capital Gains G I E 5. In October, 2018, Geoffrey sold a different capital property (17 Greenview Ave) with an N O Problem 3- put all of your final answers in the yellow boxes below, and show any ade Instructions: adjusted cost base of $115000 for proceeds of disposition of $210000. In 2018, he received reserves should be depicted with a negative number; gains with a positive number. ork in the green $75,000 in cash, along with the purchaser's note for the balance of the proceeds. The note is Item Relevant Asset Mr. Geoffrey Guo had a variety of transactions during the 2019 year. Determine the total to be repaid at the rate of $2,500 per year beginning in 2019. He receives the 2019 payment of number Disposal date Asset name taxable capital gains included in Mr Guo's division B income. The transactions included: $2,500 in full. Assume that Geoffrey deducts the maximum capital gains reserve in both 2018 1 July 20, 2019 Ted. Led shares Description of tax implication assodated with me! dispos Allowable capital loss- Ted Lid July 20, 2019: (negative) and 2019. 2 December 30, 201 Ted. Lid shares Taxable capital gain- Ted Lid. December 30, 2019 1. On January 1, 2019, Geoffrey purchased 2100 shares of Ted Ltd. at $25 per share and 500 shares at $30 per share on February 5, 2019. He sold 250 of these shares on July 20, 2019 at 6. Geoffrey purchased his first home in London, Ontario in 2008 at a cost of $75000. In 2012, 3 May 15, 2019 Baxter Lid. Shares Allowable capital loss Baxter Led_ (negative) $23 per share. he also purchased a cottage in Muskoka for $100000. In November, 2019, both properties are 4 July 6, 2019 28 Malpass Road A) Capital gain before considering 2019 reserve sold, the house for $207000 and the cottage for $172000. Both of these properties can qualify 4 July 6, 2019 28 Malpass Road D) Less: 2019 reserve takers (negative) 2. On September 30, 2019, he purchased an additional 850 shares of Ted. Ltd. at $29 per as a principal residence for him. He will designate the principal residence exemption in such a share. On December 30, 2019, he sold 280 Ted Ltd. shares at $65 per share. way that will minimize the taxable capital gains that he must report on the sale of these two 4 July 6, 2019 28 Malpass Road C) 2019 Taxable capital gain [[A+0) '50%/ properties. 5 October 2018 17 Greenview Ave A) 2018 Reserve Added to Income in 2019 3. Geoffrey owns 3100 shares of Baxter Ltd. with an adjusted cost base of $12 per share. On 5 October 2018 17 Greenview Ave 8) 2019 Reserve taken: (negative) May 15, 2019, he sells all 3100 Baxter Ltd. shares at $5 per share. On May 20, 2019, he 7. Geoffrey owned a personal sailboat with an adjusted cost base of $30000. He sold it for acquires 1200 shares of Baxter Ltd. at a cost of $4 per share and is still holding these shares at $72000 in October 2019. 5 October 2018 17 Greenview Ave C) 2019 Taxable capital gain [(A+8)'SON] the end of the year. 6 November 2019 London Ontario Home 2019 taxable capital gain (after principal residence eze 8. Geoffrey personally owned an oil painting that he purchased many years ago for $450. He 2019 taxable capital gain (after principal residence e 4. On July 6, 2019, Geoffrey sells a capital property (28 Malpass Road) with an adjusted cost 6 November 2019 Muskoka Cottage base of $140000 for proceeds of disposition of $375000. In 2019, he receives $80,000 in cash, sold it for $9000 in June 2019. 7 October 2019 Sailboat 2019 taxable capital gain along with the purchaser's note for the balance of the proceeds, The note is to be repaid in 8 June 2019 Oil painting full ($295000) in five years. Assume that Geoffrey deducts the maximum capital gains reserve. 9. Geoffrey kept a bench on the front porch of his home which cost him $1700 several years 2019 taxable capital gain ago. He sold it for $200 in January 2019. 9 January 2019 Bench 2019 allowable capital loss Required: Determine the total net taxable capital gains included in paragraph 3(b) of Mr. Guo's divison B income. Respond on "P3- Response" tab, Final answers for each line item should be typed into the yellow boxes. Please show all your backup work in the designated green space for full marks

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