During 2019, a capital property with an adjusted cost base of $131,000 is sold for $115,000. The proceeds of disposition are made up of $82,000 in cash, plus the purchaser's one-year note for $33,000. In 2020, the note proves to be uncollectible. What are the tax consequences of these events in 2019 and 2020?

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The Answer of During 2019, a capital property with an adjusted cost base of $131,000 is sold for $115,000. The proceeds of disposition are made up of $82,000 in cash, plus the purchaser's one-year note for $33,000. In 2020, the note proves to be uncollectible. What are the tax consequences of these events in 2019 and 2020?

During 2019, a Capital Property with an Adjusted Cost Base