Individual A owns shares of a Canadian-controlled private corporation. All of the corporation's past income has been eligible for the small business deduction. The shares are valued at $400,000 and have an ACB and PUC of $160,000. In 2020, The corporation redeems the shares and A receives $400,000. What amount is included A's taxable income?

Individual A owns shares of a Canadian-controlled private corporation. All of the corporation's past income has been eligible for the small business deduction. The shares are valued at $400,000 and have an ACB and PUC of $160,000. In 2020, The corporation redeems the shares and A receives $400,000. What amount is included A's taxable income?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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