Question
Which of the following scenarios would be appropriate for a section 85 rollover? Multiple Choice A. A taxpayer wishes to transfer property worth $200,000, with
Which of the following scenarios would be appropriate for a section 85 rollover?
Multiple Choice
A. A taxpayer wishes to transfer property worth $200,000, with an ACB of $90,000, to their corporation.
B. A corporation is selling its equipment to another corporation and does not wish to own shares in the other corporation.
C. A corporation wishes to convert land owned by the company into a parking lot.
D. A shareholder of a corporation wishes to transfer their vehicle to his corporation. The vehicle originally cost $20,000 and has a market value of $12,000.
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