Bob sold a capital property on December 31, 2019 for $300,000

Accounting Dec 17, 2020

Bob sold a capital property on December 31, 2019 for $300,000.  $280,000 is payable on December 31, 2021, and the balance was paid immediately in cash. The adjusted cost base of the property was $170,000 and the selling costs totalled $10,000.  Which one of the following amounts represents the minimum taxable capital gain in 2019?

 

		
$12,000.



		
$4,000.





		
$10,000.



		
$24,000.

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