Canadian taxation Company A purchased 100 of the stock of company B resulting in an acquisition of control on July 1, 2019 Company B has a net capital loss of $40,000 Non capital losses of $50,000 and unused charitable donations of $20,000 Both company A and B are in the specially business of selling shoes Which of the following statements is true Using a 111(4) election the day before the acquisition company B would elect $160,000 land it owns whos capital cost was $100,000 and FMV is $250,000 to utilize all the net capital losses and charitable donations Using a 111(4) election the day before the acquisition company B would elect $140,000 land it owns whos capital cost was $100,000 and FMV is $250,000 to utilize all the net capital losses Using a 111(4) election the day before the acquisition company B would elect $180,000 land it owns whos capital cost was $100,000 and FMV is $250,000 to utilize all the net capital losses none of the above statements are correct

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Canadian taxation  Company A purchased 100  of the stock of company B resulting in an acquisition of control on July 1, 2019  Company B has a net capital loss of $40,000  Non capital losses of $50,000 and unused charitable donations of $20,000  Both company A and B are in the specially business of selling shoes  Which of the following statements is true  Using a 111(4) election the day before the acquisition company B would elect $160,000 land it owns whos capital cost was $100,000 and FMV is $250,000 to utilize all the net capital losses and charitable donations  Using a 111(4) election the day before the acquisition company B would elect $140,000 land it owns whos capital cost was $100,000 and FMV is $250,000 to utilize all the net capital losses Using a 111(4) election the day before the acquisition company B would elect $180,000 land it owns whos capital cost was $100,000 and FMV is $250,000 to utilize all the net capital losses none of the above statements are correct

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Canadian taxation. Company A purchased 100% of the stock of company B resulting in an acquisition of control on July 1, 2019. Company B has

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