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STOCKS AND OTHER CAPITAL GAINS: (LARRY) (Line 12700) SOLD HIS LPP-Painting FOR $8,000 WHICH COST HIM $200 TO PURCHASE SOLD XYZ SHARES-COST $30,000; PROCEEDS
STOCKS AND OTHER CAPITAL GAINS: (LARRY) (Line 12700) SOLD HIS LPP-Painting FOR $8,000 WHICH COST HIM $200 TO PURCHASE SOLD XYZ SHARES-COST $30,000; PROCEEDS $50,000 PRIOR YEARS' UNUSED ALLOWABLE CAPITAL LOSSES $10,000 (2005) (Hint: use Line 25300) INVESTMENT INTEREST EXPENSE - $2,500; (Line 22100, Schedule 4) PROFESSIONAL CONSULTING BUSINESS (LARRY) (Use Line 13700 Professional) REVENUE $40,000; I OFFICE SUPPLY EXPENSES $5,000; CPA PROFESSIONAL FEES-$500 Home Office Expenses: (100M2 of 1,000M2 of home; Utilities was $1,000; Insurance was $2,000; Property tax was $3,000) AUTO: TOTAL KM DRIVEN IN 2022-20,000, BUSINESS-20% total expenses: gas($5,000); Insurance ($1,200);Maintenance($4,000) Auto cost (Ucc-$20,000, claim maximum) PRIOR YEARS UNUSED BUSINESS LOSSES $20,000 (2018) (Hint: Use Line 25200)
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