The following are separate situations: i) Alex disposed of several coins in Dec of the current year and realized a capital gain in the amount of $12,000. Alex has net capital losses in respect to listed personal properties carried forward from previous taxation years as follows: Indicate Alex's taxable net gain from the disposition of the listed personal property. ii) Christine S. has provided you with the following information in respect to her stock transactions in the current taxation year (assume stocks sold in December of the year). Christine informs you that during the year in November, she also sold jewellery for proceeds of $2,000. Cost was $800. Christine further informs you that her former accountant told her that she has a net capital loss carry forward in respect to listed personal property of $600. This loss was realized in the 2008 taxation year. Calculate Christine's net taxable capital gain for the above transactions. iii) Mr Sinclair exercised a stock option in respect to 1000 shares of a Canadian Controlled Private Corporation (CCPC) on June 15, 2021. Mr Sinclair sold all 1000 common shares of the company on November 1st of the same year. The following information in respect to the transaction is as follows: -proceedsofdispositionexercisepricefairmarketvalueofsharesonexercisedate$3.00pershare$1.10pershare$2.00pershare Calculate Mr Sinclair's net income for tax purposes based on the information provided. iv) An individual sells 200 shares of B Ltd on Dec. 15,2020 for $15,000 (cost 25,000); on Jan. 5, 2021, the individual's spouse acquires 200B Ltd shares for $70 /share. An additional 100 shares were purchased by the spouse for $60 /share in June of 2021 . The spouse sells 160 shares on Dec. 10,2021 for $110 /share. Calculate the tax consequences for each individual for each taxation year. The following are separate situations: i) Alex disposed of several coins in Dec of the current year and realized a capital gain in the amount of $12,000. Alex has net capital losses in respect to listed personal properties carried forward from previous taxation years as follows: Indicate Alex's taxable net gain from the disposition of the listed personal property. ii) Christine S. has provided you with the following information in respect to her stock transactions in the current taxation year (assume stocks sold in December of the year). Christine informs you that during the year in November, she also sold jewellery for proceeds of $2,000. Cost was $800. Christine further informs you that her former accountant told her that she has a net capital loss carry forward in respect to listed personal property of $600. This loss was realized in the 2008 taxation year. Calculate Christine's net taxable capital gain for the above transactions. iii) Mr Sinclair exercised a stock option in respect to 1000 shares of a Canadian Controlled Private Corporation (CCPC) on June 15, 2021. Mr Sinclair sold all 1000 common shares of the company on November 1st of the same year. The following information in respect to the transaction is as follows: -proceedsofdispositionexercisepricefairmarketvalueofsharesonexercisedate$3.00pershare$1.10pershare$2.00pershare Calculate Mr Sinclair's net income for tax purposes based on the information provided. iv) An individual sells 200 shares of B Ltd on Dec. 15,2020 for $15,000 (cost 25,000); on Jan. 5, 2021, the individual's spouse acquires 200B Ltd shares for $70 /share. An additional 100 shares were purchased by the spouse for $60 /share in June of 2021 . The spouse sells 160 shares on Dec. 10,2021 for $110 /share. Calculate the tax consequences for each individual for each taxation year
