Emily Spring Sold the Following Items Prior to Moving to Europe

question 12

Essay

Emily Spring sold the following items prior to moving to Europe.
$$\begin{array} { | l | r | r | } \hline { \text { Asset } } & \text { Originnl Cast } & \text { Pruceeds uf Dispusitim } \\\hline \text { Sportscar } & \$ 24,000.00 & \$ 10,000.00 \\\hline \text { Antiquue cabinet } & \$ 1,000.00 & \$ 2,000.00 \\\hline \text { A rare coin } & \$ 100.00 & \$ 1,100.00 \\\hline \text { Shares in a public corporation } & \$ 4,000.00 & \$ 3,000.00 \\\hline \text { Canoe } & \$ 500.00 & \$ 600.00 \\\hline \text { Limmited edition painting } & \$ 800.00 & \$ 2,500.00 \\\hline \text { Seulpture } & \$ 1,100.00 & \$ 900.00 \\\hline\end{array}$$
Required:
Determine the total taxable income from Emily's sales, identifying the appropriate categories of capital property.

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