How the calculations is done?
Styles Editing Voice Sensitivity Mr. Geoffrey Guo had a variety of transactions during the 2019 year, Determine the total taxable capital gains included in Mr. Guo's division B income. The transactions included: 7. Geoffrey owned a personal sailboat with an adjusted cost base of $30000. He sold it for 572000 in October 2019, 1. On January 1, 2019, Geoffrey purchased 2100 shares of Ted Lid. 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 A. Geoffrey personally owned an oil painting that he purchased many years ago for $450, He 523 per share. sold it for $9000 in June 2019. 2. On September 30, 2019, he purchased an additional 850 shares of Ted. Led, at $29 per P. Geoffrey kept a bench on the front porch of his home which cost him $1700 several years ago. He sold it for 5200 in January 2019. share. On December 30, 2010, he sold 280 Ted Lid, shares at $65 per share. Hequired: Determine the total net taxable capital gains included in paragraph 3(b] of Mr. 3. Geoffrey owns 3100 shares of Baxter Led, with an adjusted cost base of $12 per share, On Guo's divison B income, Respond on "P3- Response" tab. Final answers for each line Item May 15, 2019, he sells all 3100 Baxter Lid, shares at $5 per share, On May 20, 2019, he should be typed into the yellow boxes. Please show all your backup work in the designated acquires 1200 shares of Baxter Lid. at a cost of $4 per share and is still holding these shares at green space for full marks. the end of the year. A. On July 6, 2019, Geoffrey sells a capital property (28 Malpass Road) with an adjusted cost base of $140000 for proceeds of disposition of $375090. In 2019, he receives $80,000 in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid in full ($795000) in five years. Assume that Geoffrey deducts the maximum capital gains reserve. 5. In October, 2018, Geoffrey sold a different capital property (17 Greenview Ave) with an adjusted cost base of $115000 for proceeds of disposition of $210000, In 2018, he received 575,000 in cash, along with the purchaser's note for the balance of the proceeds. The note is to be repaid at the rate of $2,500 per year beginning in 2019. He receives the 2019 payment of $2,500 in full. Assume that Geoffrey deducts the maximum capital gains reserve in both 2018 and 2019. 6. Geoffrey purchased his first home in London, Ontario in 2008 at a cost of $75000. In 2012, he also purchased a cottage in Muskoka for $100000. In November, 2019, both properties are sold, the house for $207000 and the cottage for $172000. Both of these properties can qualify Mailbor as a principal residence for him. He will designate the principal residence exemption in such a way that will minimize the taxable capital gains that he must report on the sale of these two properties
