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Lossco has a net capital loss carry forward of $40,000 and a non-capital loss carry forward of $50,000. The fair market value of its only
Lossco has a net capital loss carry forward of $40,000 and a non-capital loss carry forward of $50,000. The fair market value of its only depreciable property is $20,000 less than the undepreciated capital cost (UCC) of the property. If the shares of Lossco were purchased by an unrelated Canadian corporation, what would be the amount of the losses that could be carried forward in Lossco after the purchase?
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
