Badon Inc. is a Canadian public company. The following information is for its taxation year ending December 31, 2020: The Company also has available a net capital loss carry forward of $37,400 [(1/2)($74,800)]. It would like to deduct this loss during the current year.
Determine the non-capital loss balance [ITA 111(8)(b)] for Badon Inc. at the end of the 2020 taxation year and any available net capital loss carry forward.

Question

Badon Inc. is a Canadian public company. The following information is for its taxation year ending December 31, 2020:  The Company also has available a net capital loss carry forward of $37,400 [(1/2)($74,800)]. It would like to deduct this loss during the current year.
Determine the non-capital loss balance [ITA 111(8)(b)] for Badon Inc. at the end of the 2020 taxation year and any available net capital loss carry forward.

Quizplus · Accepted Answer

The Answer of Badon Inc. is a Canadian public company. The following information is for its taxation year ending December 31, 2020:  The Company also has available a net capital loss carry forward of $37,400 [(1/2)($74,800)]. It would like to deduct this loss during the current year.
Determine the non-capital loss balance [ITA 111(8)(b)] for Badon Inc. at the end of the 2020 taxation year and any available net capital loss carry forward.

Badon Inc Is a Canadian Public Company