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Homework answers / question archive / Question #9In 2018, Charlotte Ramp gives shares to her spouse Michael Ramp
Question #9In 2018, Charlotte Ramp gives shares to her spouse Michael Ramp. The shares have an adjusted cost base of$23,000 and, at the time of the gift, they have a fair market value of $35,000. Charlotte elects out of ITA 73(1) inher return of income.During 2019, the shares pay eligible dividends of $1,800. Prior to the end of 2019, Michael sells the shares for$42,000. What are the tax consequences to Charlotte and Michael in each of the years 2018 and 2019? If there areno tax consequences for either individual in a given year, you should clearly state this fact in your answer
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