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Question 2   In 2017, Geoff incurred a capital loss of $100,000 from the disposition of small business corporation shares

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Question 2   In 2017, Geoff incurred a capital loss of $100,000 from the disposition of small business corporation shares. The only other capital transaction Geoff has ever recorded was in 1998, when he had a Taxable Capital Gain of $45,000 on which he qualified for the Capital Gains Deduction.  Geoff had $98,000 in employment income in 2017.  Show the tax consequences in 2017 for Geoff, using the aggregating formula of Section 3, and assuming:(a) that Geoff did not take the capital gains deduction in 1998, and (b) that Geoff did take the capital gains deduction in 1998