In a Section 85(1)rollover, the elected value serves as proceeds of disposition for the property given up, the adjusted cost base of the property received from the corporation and the tax cost of the property received by the corporation.

Question

Quizplus · Accepted Answer

The elected value in a Section 85(1) rollover is used as the proceeds of disposition for the property being given up, as well as the adjusted cost base and tax cost of the property being received by both the corporation and the individual.

In a Section 85(1)rollover, the Elected Value Serves as Proceeds