IT IS 1 QUESTION ONLY. PLEASE SOLVE IT ALL

For each of the following independent transactions, determine the minimum amount of net income or loss for tax purposes and the taxpayer to which it applies. 1. An individual purchases a $10,000 bond for their 15 -year-old daughter. During the year, the bond pays interest of $1,000 An individual pays $15,000 for shares of a public corporation, which they later gif to their spouse At the 2. time of the git, the shares had a value of $30,000 Aler receiving the git, the spouse receives a dividend of $1,000 and then sells the shares for $26,000. A student who is 20 years old borrowed $20,000 from their parent and uses the funds to purchase shares 3 in a public corporation Atter receiving a dividend of $1,000, the student solls the shares for $24,000. The interest rate on the loan equals the prescribed rate A student who is 17 yars old receives an interest-free loan of $20.000 trom their parent and uses the funds to purchase shares in a public corporation Aner receiving a dividend of $1.000. the student sells the shares for $24000 A student who is 17 years old receives an interest free loan of $20,000 from their parent and uses the funds to purchase shares in a public corporation. After receiving a dividend of $1,000, the student sells the shares for $24,000 An individual loans money to their spouse, who uses the borrowed funds to purchase a rental property During the year, the rental property earns net rentals of $7,000. The amount of the loan, which is interestfree, is $60,000 An individual loans money to their spouse, who uses the borrowed funds to purchase a rental property During the year, the rental property earns net rentals of $7,000. The amount of the loan, is $60,000. The loan is subject to a reasonable interest rate of 6% and is secured by a mortgage on the rental property. An individual gifts common shares of a Canadian-controlled private corporation to their 16 -year-old daughter. At the time of the gift, the shares are valued at $10,000. Their original cost was $6,000. During the year, the daughter receives a non-eligible dividend of $1,000 from the shares and then sells them for $15,000. During the year, the rental property earns net rentals of $7,000. The amount of the loan, is $60,000. The loan is subject to a reasonable interest rate of 6% and is secured by a mortgage on the rental property An individual gifts common shares of a Canadian-controlled private corporation to their 16 -year-old daughter. At the time of the gift, the shares are valued at $10,000. Their original cost was $6,000. During the year, the daughter receives a non-eligible dividend of $1,000 from the shares and then sells them for $15,000 An individual contributes $5,000 to their spouse's TFSA. The funds are invested in bonds earning interest For each of the following independent transactions, determine the minimum amount of net income or loss for tax purposes and the taxpayer to which it applies. 1. An individual purchases a $10,000 bond for their 15 -year-old daughter. During the year, the bond pays interest of $1,000 An individual pays $15,000 for shares of a public corporation, which they later gif to their spouse At the 2. time of the git, the shares had a value of $30,000 Aler receiving the git, the spouse receives a dividend of $1,000 and then sells the shares for $26,000. A student who is 20 years old borrowed $20,000 from their parent and uses the funds to purchase shares 3 in a public corporation Atter receiving a dividend of $1,000, the student solls the shares for $24,000. The interest rate on the loan equals the prescribed rate A student who is 17 yars old receives an interest-free loan of $20.000 trom their parent and uses the funds to purchase shares in a public corporation Aner receiving a dividend of $1.000. the student sells the shares for $24000 A student who is 17 years old receives an interest free loan of $20,000 from their parent and uses the funds to purchase shares in a public corporation. After receiving a dividend of $1,000, the student sells the shares for $24,000 An individual loans money to their spouse, who uses the borrowed funds to purchase a rental property During the year, the rental property earns net rentals of $7,000. The amount of the loan, which is interestfree, is $60,000 An individual loans money to their spouse, who uses the borrowed funds to purchase a rental property During the year, the rental property earns net rentals of $7,000. The amount of the loan, is $60,000. The loan is subject to a reasonable interest rate of 6% and is secured by a mortgage on the rental property. An individual gifts common shares of a Canadian-controlled private corporation to their 16 -year-old daughter. At the time of the gift, the shares are valued at $10,000. Their original cost was $6,000. During the year, the daughter receives a non-eligible dividend of $1,000 from the shares and then sells them for $15,000. During the year, the rental property earns net rentals of $7,000. The amount of the loan, is $60,000. The loan is subject to a reasonable interest rate of 6% and is secured by a mortgage on the rental property An individual gifts common shares of a Canadian-controlled private corporation to their 16 -year-old daughter. At the time of the gift, the shares are valued at $10,000. Their original cost was $6,000. During the year, the daughter receives a non-eligible dividend of $1,000 from the shares and then sells them for $15,000 An individual contributes $5,000 to their spouse's TFSA. The funds are invested in bonds earning interest