In a Section 85 rollover, the lowest value that can be elected for the transfer of cumulative eligible capital is the greater of the fair market value of the boot and the least of 4/3 of the cumulative eligible capital balance, the cost of the individual eligible capital property, and the fair market value of the individual eligible capital property.

Question

Quizplus · Accepted Answer

This statement is true as per the provisions of section 85 of the Income Tax Act.

In a Section 85 Rollover, the Lowest Value That Can