Question
During the current year, Toyco Inc. has a business loss of $350,000. Net taxable capital gains of $35,000, an Allowable Business Investment Loss of $15,000,
During the current year, Toyco Inc. has a business loss of $350,000. Net taxable capital gains of $35,000, an Allowable Business Investment Loss of $15,000, and receives dividends from taxable Canadian corporations in the amount of $50,000.
What is the amount of the non-capital loss for the year?
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Concepts In Federal Taxation
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
19th Edition
978-0324379556, 324379552, 978-1111579876
