. Blue Skies Ltd. had the following sources of income and deductions for the current year. As well, it has a net capital...
. Blue Skies Ltd. had the following sources of income and deductions for the current year. As well, it has a net capital loss carryover from two years ago of $4,000. Dividend from taxable Canadian corporation $ 45,000
Capital gain on sale of land and building 6,000
Business income per financial statements 350,000
Charitable donations deducted in determining business income above 5,000
What is the minimum taxable income for Blue Skies for the year?
a) $297,000
b) $345,000
c) $350,000
d) $352,000
Homework Answers
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. Blue Skies Ltd. had the following sources of income and deductions for the current year. As well, it has a net capital...
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