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Greta Dowell sold the following items prior to embarking on her save the planet crusade. Original Cost Proceeds of Disposition Sailboat $20,000 $8,000 Antique cabinet
Greta Dowell sold the following items prior to embarking on her save the planet crusade.
Original Cost | Proceeds of Disposition | |
Sailboat | $20,000 | $8,000 |
Antique cabinet | $1,600 | $2,300 |
A rare coin | $200 | $1,500 |
Shares in a public corporation | $4,400 | $3,000 |
Canoe | $550 | $750 |
Limited edition painting | $800 | $2,000 |
Sculpture | $1,250 | $800 |
Calculate the amount of taxable income from Greta's sales, identifying the appropriate categories of capital property and her total taxable capital gain amount.
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