If land is transferred in an ITA 85(1) rollover and the elected value is less than its adjusted cost base, a loss can always be recognized on the transfer.

Name: If land is transferred in an ITA 85(1) rollover and the elected value is less than its adjusted cost base, a loss can always be recognized on the transfer.
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If the elected value is less than the adjusted cost base, no loss can be recognized on the transfer under ITA 85(1) rollover as the transfer is deemed to be at the adjusted cost base.

If Land Is Transferred in an ITA 85(1) Rollover and the Elected