Question
QUESTION4.17 (Disposalofcollectableassets) DaisyChain,aresidenttaxpayer,soldthefollowingCGTassetsduringthe2O21/22 tax year: COST ACQUISITION DISPOSAL SALE ASSET BASE DATE DATE PRICE Jewellery $400 3JulO7 11Jun22 $1,1OO Artwork $3,5OO 12Sep12 18May 22 $26,OOO
QUESTION4.17 (Disposalofcollectableassets)
DaisyChain,aresidenttaxpayer,soldthefollowingCGTassetsduringthe2O21/22 tax year:
COST ACQUISITION DISPOSAL SALE
ASSET BASE DATE DATE PRICE
Jewellery $400 3JulO7 11Jun22 $1,1OO
Artwork $3,5OO 12Sep12 18May 22 $26,OOO
RareMedallion $8,4OO 19Jan16 29Sep21 $10,400
ButterflyCollection $95O 8May17 16Dec21 $2,45O
StampCollection $1,2OO 24Feb14 6Nov21 $4,000
DeterminetheminimumamountofcapitalgainsthatDaisyisabletoincludeasassessableincomeinher2O21/22 incometaxreturn.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
