Question 1

Pat sold a painting for $859 during the year. The original cost was $1,256.

Pat also sold a rare coin for $2,831, which had an original cost of $682.

Calculate the amount to be included in income for Pat.

Question 2

Pat sold a house in Nanaimo in 2019 for $873,000. The original purchase price in 2,010 was 214,000.

Pat previously owned a cottage at Whistler which was sold last year and used 3 years of the principal residence exemption on that sale.

Calculate Pat's taxable capital gain to be include in income.