29. Tina disposed of a painting on 1 July 2022 for $600,000 which she had bought February 2018 for $350,000. She also sold an investment property for $310,000 in December 2022 and incurred agency fees of $75,000 on the disposal. The annual maintenance for the property is $40,000. She bought the property in August 2019 for $200,000. Tina had capital losses brought forward of $12,000. Her Capital gains for 2022 was: a. $53,000 b. $13,000 c. $65,000 d. $25,000
29. Tina disposed of a painting on 1 July 2022 for $600,000 which she had bought February 2018 for $350,000. She also sold an investment property for $310,000 in December 2022 and incurred agency fees of $75,000 on the disposal. The annual maintenance for the property is $40,000. She bought the property in August 2019 for $200,000. Tina had capital losses brought forward of $12,000. Her Capital gains for 2022 was: a. $53,000 b. $13,000 c. $65,000 d. $25,000
Chapter3: Income Sources
Section: Chapter Questions
Problem 86P
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Transcribed Image Text:29. Tina disposed of a painting on 1 July 2022 for $600,000 which she had bought February 2018
for $350,000. She also sold an investment property for $310,000 in December 2022 and
incurred agency fees of $75,000 on the disposal. The annual maintenance for the property is
$40,000. She bought the property in August 2019 for $200,000. Tina had capital losses
brought forward of $12,000. Her Capital gains for 2022 was:
a. $53,000
b. $13,000
c. $65,000
d. $25,000
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