Stieb sold listed personal property in 2015 and reported a capital loss of $5,000.

• Stieb can apply this loss to his 2016 capital gains to reduce his taxable income.
• Stieb carries the loss forward to a future year when he has capital gains to offset.
• In 2017, Dave had a net taxable capital gain of $500:

https://www.coursehero.com/tutors-problems/Tax-law/32028439-Dave-Stieb-reported-the-following-information-for-Tax-purposes-2015-2/

7000-5000=2000

(3,0002,000)1/2 = $500

Is this correct?

Personal-Use Property

• Calculated difference between sale price and ACB.
• Stieb sold PUP and reported a capital gain of $5,000 in 2015 and $4,000 in 2017.
• Capital gain is half the amount of sales:

(5000+4000) x = 4,500

What's the reasoning behind spreading $4,500 into $2,500 (2016) and $2,000 (2017)?

2016: $2,500 = 5,000 x 1/2

2017: $2,000 = 4,000 x 1/2

Other

• Calculated the same way as personal use property.
• Stieb reported a capital loss of $2,000 in 2020, capital gain of $3,000 in 2021, and a capital loss of $8,000 in 2021.
• Capital gain was calculated as half of the proceeds from the sale (1/2 x sale price).

2015: (8,000 - 4,000) x = $2,000 (IS THE $4,000 CARRIED OVER FROM PUP 2017?)

2016: 6,000 x = $3,000

2017: 16,000 x 1/2= $8,000.