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Mr

Taxation Dec 17, 2020

Mr. Winestock owned two homes from 2016 to 2018.  He had purchased Home A in 2004 for $60,000.  In 2016, he purchased Home B for $180,000, with the intention of selling Home A immediately.  Due to market conditions, mortgage rates, and the asking price, he was unable to sell Home A until 2018.  The proceeds received on the sale of Home A were $150,000.  In 2019, he was transferred to a different city and sold Home B.  He designated 2016 and 2017 to Home A when it was sold.  The proceeds received on the sale of Home B were $200,000.  What is his taxable capital gain on Home B?





		
$5,000.



		
$2,500.



		
Nil.



		
$10,000.

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