college N

Jim, age 45, is a widower since the year of 2011 when his wife suddenly passed away. He has calculated his net income for tax purposes, for 2014, to be $86,000, which is comprised of $80,000 in employment income and $4,000 of net taxable capital gains. He...

#1 step 1 House Cottage years owned 2011 - 2015 2013-2015 5 3 # step 2 500,000 250,000 (400,000) (150,000) (20,000) (10,000) --------------- ---------------- GG 80,000 90,000 step3 80000/5 90000/3 16 000 30000 step4 3 2 step5 80000 90000 (1+3)/5 x 80000 (...