,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

          ,9t]pret,n ,bullet9
    
,subject3 ,9come ,tax ,act
  ,9come ( ,dec1s$ ,p]sons--,"rs or ,?+s
,numb]3 ,,it-#bab;,r#c
,date3 ,m>* #ba1 #aiij
,ref];e3 ,subsec;n #gj7#b7 7al subsec;ns
  #aj7#f71 #fa.a7#b71 #fi7#a.a71
  #gj7#a71 #gj7#c71 #gj7#c.a71 #gj7#d71
  #gj7#e.b71 #if7#a.e71 #aaj.d7#e71
  #aei7#e7 & #aei7#e.a7 & p>agraphs
  #cd7a7 & #fi7#a77c7 (! ,act & sec;n
  #bc (! ,9come ,tax ,applic,n ,rules1
  #aiga 7,,itar77

               ,applic,n
    
  ,? bullet9 replaces & c.els ,9t]pret,n
,bullet9 ,,it-#bab;,r#b dat$ ,june #bi1
#aihg4 ,curr5t revi.ns >e designat$
0v]tical l9es4
                                      #a
                ,summ>y              a#a
    
  ,! provi.ns (! ,act 4cuss$ 9 ? bullet9
3c]n ! tax tr1t;t ( 8"rs or ?+s0 t a
taxpay] [ns on d1? & t wd h be5 9clud$ 9
9come if ! taxpay] _h surviv$ 6r1lize or
4pose ( ^! prop]ties4 ,! am.t (! "rs or
?+s t is br"\ 96! 9come -put,n (! dec$5t
=! ye> ( d1? is ! value (! "rs or ?+s at
! "t ( d1?4
  ,"rs or ?+s 9clude1 = example1
divid5ds dcld b unpd1 unus$ vac,n l1ve
cr$its &! 9v5tory (a f>m] :o reports
9come on a ca% basis4 ,"rs or ?+s d n
9clude1 = example1 ,canadian or =eign
res\rce prop]ties &! a3ru$ por;n (
p]iodic pay;ts4
  ,! legal repres5tative (! dec$5t &!
b5efici>ies h ?ree alt]natives = report+
! 9come 9 respect (! dec$5t's "rs or
?+s4 ,! alt]natives >e3
    7a7 ! 9come c 2 report$ 9 ! dec$5t's
      9come tax return =! ye> ( d1? al;g
      )! o!r 9come = t p]iod1
                                      #b
             ,,it-#bab;,r#c          b#a
    7b7 ! 9come c 2 report$ 9 a sep>ate
      9come tax return =! "rs or ?+s (!
      dec$5t1 or
    7c7 ! "rs or ?+s c 2 transf]r$ 6"o
      or m (! b5efici>ies (! dec$5t )!
      result t ! b5efici>ies r ?an !
      dec$5t report ! 9come4

          ,4cus.n & ,9t]pret,n
    
#a4 8,"rs or ?+s01 z ! t]m is us$ 9
  subsec;n #gj7#b71 & _! tax,n >e 4cuss$
  9 ? bullet94 ,subsec;n #gj7#a71 :
  4cusses pay;ts rcvd on a p]iodic
  basis1 is 4cuss$ 9 ! curr5t v].n (
  ,,it-#baj 8,9come ( ,dec1s$ ,p]sons--
  ,p]iodic ,pay;ts04
--------------------------------------#b
#b4 ,) c]ta9 excep;ns1 ": a taxpay] at !
  "t ( d1? _h "rs or ?+s :1 :5 r1liz$ or
  4pos$ (1 wd h be5 9clud$ 9 -put+
  9come1 subsec;n #gj7#b7 requires !
  8value0 7see #d 2l7 ( s* "rs or ?+s at
  ! date ( d1? 6be 9clud$ 9 -put+     #c
             ,,it-#bab;,r#c          a#b
  9come =! ye> ( d1?4 ,subsec;n #gj7#b7
  9cludes 9 9come am.ts t h be5 e>n$ b h
  n be5 9clud$ 9 9come3 divid5ds dcld b
  unpd1 def]r$ ca% pur*ase tickets 7see
  subsec;n #gf7#d771 unca%$ matur$ bond
  c\pons & am.ts 9 respect ( : an am.t
  has be5 deduct$ 9 -put+ 9come1 s* z a
  8ca% basis0 9v5tory4 ,exclud$ f !
  applic,n ( subsec;n #gj7#b7 >e capital
  prop]ty1 am.ts 9clud$ 9 9come "u
  subsec;n #gj7#a71 &1 pursuant
  6subsec;n #gj7#c.a71 life 9sur.e
  policies 79clud+ annu;y 3tracts o!r
  ?an ^? 9 respect ( : an am.t 0
  deducti# 0! dec$5t "u p>agraph
  #fj7l771 eligi# capital prop]ty1 l&
  9clud$ 9 ! 9v5tory (a busi;s &
  ,canadian or =eign res\rce prop]ties4
#c4 ,": "! is g5u9e d\bt ab :e!r 9come
  e>n$ 2f a taxpay]'s d1? is a p]iodic
  pay;t or a "r or ?+1 xs tr1t;t is
  g5],y resolv$ 9 fav\r (! taxpay]4 ,z a
  3sequ;e1 ! legal repres5tative may
  report ! 9come 9 "q "u subsec;n     #d
             ,,it-#bab;,r#c          b#b
  #gj7#a7 or "u subsec;n #gj7#b74 ,9 !
  latt] case1 dep5d+ ^u ! tim+1 an
  elec;n "u t provi.n may 2 made1 or if
  ! 9come has be5 transf]r$
  6b5efici>ies1 subsec;n #gj7#c7 applies
  9/1d ( subsec;n #gj7#b7 7see #bj & #be
  2l74
#d4 ,! value (a "r or ?+ = purposes (
  subsec;n #gj7#b7 dep5ds ^u ! facts (
  ea* "picul> situ,n4 ,9 calculat+ ?
  8value01 "! may 2 deduct$ f ! gross
  am.t (! "r or ?+ c]ta9 am.ts 9curr$ b
  unpd at ! date (! taxpay]'s d1?4 ,6be
  deducti# = ? purpose1 ^? am.ts m/ 2 (
  s* a nature t1 _h ! taxpay] n di$1 !y
  wd h be5 deducti# 9 -put+ ! taxpay]'s
  9come4 ,= example1 am.ts paya# or
  a3ru$ = items s* z 9t]e/1 prop]ty
  taxes or 9sur.e premiums >e deducti#
  if !y >e 9 respect ( "rs or ?+s 9clud$
  9 9come "u subsec;n #gj7#b74
#e4 ,": deduc;ns all[a# ac 6! =ego+
  exce$ ! gross am.t (! "rs or ?+s1 !
  excess is deducti# f o!r 9come (!   #e
             ,,it-#bab;,r#c          c#b
  taxpay]4 ,": ! a7regate ( deduc;ns
  all[a# 9 -put+ "rs or ?+s exce$s !
  a7regate (! gross am.t ( "rs or ?+s1
  no am.t c 2 report$ on ! sep>ate
  return = "rs or ?+s4 ,9 ? situ,n ! "rs
  or ?+s may 2 report$ on ! f9al return
  (! dec1s$ taxpay]4 ,see #bj 2l = fur!r
  -;ts on ! sep>ate return = "rs or ?+s4
--------------------------------------#c
      ,supplies on ,h& & ,9v5tory
    
#f4 ,supplies on h& & 9v5tories (
  taxpay]s on ! ca% basis ( report+
  9come = tax purposes 7f>m]s & fi%]m57
  >e "rs or ?+s4 ,! 9v5tory ( an >ti/ t
  is valu$ at nil pursuant 6subsec;n
  #aj7#f7 is a "r or ?+ 7see ! curr5t
  v].n ( ,,it-#ejd 8,visual ,>ti/s &
  ,writ]s074

     ,"w 9 ,progress ( ,profes.nals
    
#g4 ,"w 9 progress (a profes.nal1 :o is
  a sole proprietor & :o elects       #f
             ,,it-#bab;,r#c          a#c
  6exclude "w 9 progress 9 -put+ 9come
  pursuant 6p>agraph #cd7a71 is a "r or
  ?+4 ,p>agraph #cd7a7 applies 6!
  profes.nal practice ( an a3.tant1
  d5ti/1 lawy] 79clud+ a not>y 9 !
  prov9ce ( ,quebec71 m$ical doctor1
  vet]9>ian or *iropractor4 ,! tr1t;t (
  "w 9 progress (a profes.nal "pn]%ip on
  ! d1? (a "pn] or a retir$ "pn] is
  4cuss$ 9 ! curr5t v].n ( ,,it-#bgh
  8,d1? (a ,"pn] or a ,retir$ ,"pn]04

               ,live/ock
    
#h4 ,": a dec1s$ f>m] on ! ca% basis [n$
  a 8trad+0 h]d1 ! value (! h]d is a "r
  or ?+4 ,if ! h]d 9cludes a 8basic0
  h]d1 ! fair m>ket value at ,decemb]
  #ca1 #aiga (! basic h]d at ! "t ( d1?
  may 2 deduct$ f ! value at date ( d1?4
  ,see ! curr5t v].n ( ,,it-#dbg
  8,live/ock ( ,f>m]s0 = fur!r details4

                                      #g
                 ,gra9               b#c
    
#i4 ,! "r 6rcv an 9t]im or f9al pay;t =
  gra9 m>ket$ "? ! ,canadian ,:1t ,bo>d
  is a "r or ?+4 ,": an ann\nce;t is
  made 2f a taxpay]'s d1? t an 9t]im or
  f9al pay;t w 2 made1 ! "r or ?+ is 6be
  valu$ at ! am.t fix$ 0! ,canadian ,:1t
  ,bo>d4 ,": an ann\nce;t ( an 9t]im or
  f9al pay;t is made af a taxpay]'s d1?1
  ! pay;t is 3sid]$ 6h no value =!
  purposes ( subsec;n #gj7#b74 ,simil>ly
  an 5title;t 6rcv a pay;t "u ! ,we/]n
  ,gra9 ,/abiliz,n ,act is a "r or ?+4
  ,": x has be5 ann\nc$ 2f a taxpay]'s
  d1? t a ,we/]n ,gra9 ,/abiliz,n pay;t
  w 2 made1 ! taxpay]'s %>e (! pay;t is
  subject 6! provi.ns ( subsec;n
  #gj7#b74 ,": s* ann\nce;ts >e made af
  ! taxpay]'s d1?1 ! taxpay]'s %>e ( s*
  pay;ts is n 3sid]$ 6h any value =!
  purposes ( subsec;n #gj7#b74
#aj4 ,! 9v5tory ( h>ve/$ gra9 (a dec1s$
  taxpay] :o -put$ 9come us+ ! ca% basis
  is a "r or ?+4 ,! value (! gra91    #h
             ,,it-#bab;,r#c          c#c
  = purposes ( subsec;n #gj7#b71 is
  3sid]$ 6be n less ?an ! op5 m>ket fe$
  gra9 prices less applica# deduc;ns s*
  z frei<t & elevator h&l+ *>ges4 ,see !
  curr5t v].n ( ,,it-#bcd 8,9come (
  ,dec1s$ ,p]sons--,f>m ,crops0 = -;ts
  on unh>ve/$ crops4
--------------------------------------#d
            ,debts ,receiva#
    
#aa4 ,a "r or ?+ may 9clude a debt
  receiva#4 ,= example1 a taxpay] has a
  debt receiva# t is a "r or ?+ ": 9come
  is report$ on ! ca% basis & an am.t is
  [+ 6! taxpay] on ! sale ( live/ock4
  ,": s* a debt is =giv5 0! dec$5t 0w1 !
  debt is no less a "r or ?+ b sec;n #hj
  does n apply 2c ( p>agraph #hj7#a77h74

               ,divid5ds
    
#ab4 ,a divid5d : 0 dcld b n pd 2f !
  taxpay]'s d1? is a "r or ?+ if ! ex-
  divid5d date1 7or1 if n"o1 ! date   #i
             ,,it-#bab;,r#c          a#d
  ( record7 0 prior 6! date ( d1?4 ,a
  divid5d : is a "r or ?+ is subject 6!
  normal 8gross up & cr$it0 provi.ns4

             ,l1ve ,cr$its
    
#ac4 ,": an employee is 5titl$ 6be pd =
  unus$ vac,n l1ve cr$its1 ! am.ts "!(
  >e "rs or ?+s : >e br"\ 969come "u
  subsec;n #gj7#b74

        ,employee ,-p5s,n ,plans
    
#ad4 ,": an employee has at ! "t ( d1? a
  ve/$ "r 6rcv1 ?\< p]h n immly1 a4i;nal
  -p5s,n 9 respect ( employ;t : is
  paya#1 9 ! ev5t ( d1?1 6! e/ate or
  b5efici>ies 7b : _h n a3ru$ 9 ! la/
  pay p]iod prior 6d1? z 3templat$ 9
  subsec;n #gj7#a771 ! "r 6s* pay;t is a
  "r or ?+4 ,= 9/.e1 if "u an employee
  b5efit plan1 c]ta9 am.ts ( -p5s,n >e
  paya# on c]ta9 future dates 6!
  employee or1 9 ! ev5t ( d1?1 6!    #aj
             ,,it-#bab;,r#c          b#d
  employee's e/ate1 ! "r 6future pay;t
  at ! "t ( d1? (! employee is a "r or
  ?+4

      ,lump-sum ,pay;t \ (a ,p5.n
                 ,plan
    
#ae4 ,": a lump-sum pay;t \ (a p5.n fund
  or plan 9 respect (a dec1s$ employee's
  9t]e/ "!9 is made 6an e/ate1 tru/ or
  b5efici>y 7a recipi5t71 no "p ( t am.t
  is a "r or ?+ )9 ! m1n+ ( subsec;n
  #gj7#b7 9 any case ": ! t]ms (! fund
  or plan 7 s* t ! employee cd n h
  obta9$ a refund ( 3tribu;ns prior 6d1?
  except 9 ! ev5t ( retire;t or o!r
  )drawal f employ;t4 ,? is 0f> ! mo/
  usual situ,n1 & ": s* is ! case1 !
  am.t is 9come (! recipi5t pursuant
  6subp>agraph #ef7#a77a77;i74 ,"! may 2
  excep;nal cases ": a p5.n fund or plan
  provides = volunt>y )drawal (
  3tribu;ns 0an 9dividual 3tributor
  7possibly ) 9t]e/ &/or employ]'s   #aa
             ,,it-#bab;,r#c          c#d
  3tribu;ns7 at a "t or "ts o!r ?an on
  retire;t or on l1v+ ! employ;t4 ,": ?
  is s1 ! por;n (! lump-sum pay;t : wd h
  be5 taxa# _h x be5 rcvd 0! dec$5t
  norm,y is / reg>d$ z 9come (! e/ate or
  b5efici>y2 b if ! executor
--------------------------------------#e
  desires1 = any r1son1 6report t am.t z
  9come (! employee =! ye> ( d1?
  pursuant 6subsec;n #gj7#b71 no objec;n
  w 2 made 6t mann] ( report+ nor 6any
  3sequ5tial elec;n prop]ly made "u
  subsec;n #gj7#b74

       ,regi/]$ ,retire;t ,sav+s
              ,plans1 etc4
    
#af4 ,a taxpay] is n 3sid]$ 6h a "r or
  ?+ 9 respect (a regi/]$ retire;t sav+s
  plan1 :e!r matur$ or n1 if ! taxpay]
  was1 until d1?1 ! annuitant "!"u4
  ,h["e1 except 9 ! case (a plan t _h
  matur$ 2f ,june #cj1 #aigh1 ": !
  annuitant dies af ,june #bi1       #ab
             ,,it-#bab;,r#c          a#e
  #aigh1 ! fair m>ket value ( all !
  prop]ty (! plan at ! "t ( d1? 7less
  am.ts receiva# 0! sp\se (! dec$5t or
  rcvd z a refund ( premiums 0an eligi#
  * or gr&*ild (! dec$5t1 z describ$ 9
  subsec;ns #adf7#h.h7 to 7#h.ia77 m/ 2
  9clud$ 9 ! 9come (! dec$5t 0virtue (
  subsec;n #adf7#h.h7 9 ! ord9>y return
  requir$ 6be fil$ 0sec;n #aej4 ,see !
  curr5t v].n ( ,,it-#ejj 8,regi/]$
  ,retire;t ,sav+s ,plans 7matur+ af
  ,june #bi1 #aigh7 ,d1? ( ,annuitant af
  ,june #bi1 #aigh0 = fur!r details4
  ,simil>ly1 a taxpay] is n 3sid]$ 6h a
  "r or ?+ 9 respect (a regi/]$ retire;t
  9come fund4

              ,l& ,9v5tory
    
#ag4 ,l& t is 9clud$ 9 ! 9v5tory (a
  busi;s (! dec1s$ taxpay] is n a "r or
  ?+ = purposes ( subsec;n #gj7#b74
  ,h["e1 s* l& is deem$ 6be 4pos$ (1
  immly 2f d1?1 0! dec1s$ taxpay]    #ac
             ,,it-#bab;,r#c          b#e
  = proce$s equal 6fair m>ket value1
  pursuant 6p>agraph #gj7#e.b77e74
  ,p>agraph #gj7#e.b77f7 3ta9s special
  rules ": ! l& is transf]r$ 6! sp\se or
  6a tru/ =! sp\se4

         ,9come-,av]ag+ ,annu;y
                ,3tracts
    
#ah4 ,on d1?1 an 9come-av]ag+ annu;y
  3tract is n a "r or ?+ 6: subsec;n
  #gj7#b7 is applica#4 ,pursuant
  6subsec;n #fa.a7#b71 any am.t pd \ (
  an 9come-av]ag+ annu;y 3tract
  subsequ5t 6! d1? (! orig9al annuitant
  is deem$ 6be a pay;t \ ( an 9come-
  av]ag+ annu;y 3tract & w "!=e 2 9clud$
  9 ! 9come (! recipi5t ) no deduc;n =
  any capital ele;t4

            #aiga ,receiva#s
    
#ai4 ,sec;n #bc (! ,,itar provides rules
  = tax+ 8#aiga receiva#s0 (a        #ad
             ,,it-#bab;,r#c          c#e
  busi;s t is a profes.n4 ,any s*
  receiva#s n alr br"\ 969come at ! date
  ( d1? >e 9clud$ 9 ! dec$5t's f9al
  return pursuant 6p>agraph #bc7#c77c7
  (! ,,itar &a fur!r deduc;n is preclud$
  0p>agraph #bc7#d77a7 (! ,,itar4 ,!y >e
  n 3sid]$ 6be "rs or ?+s "u subsec;n
  #gj7#b74 ,0virtue ( subsec;n
  #aei7#e.a71 ! tax 9curr$ on s*
  receiva#s may 2 pd 9 9/al;ts1 z
  describ$ 9 #bd 2l4
--------------------------------------#f
                ,elec;ns
    
#bj4 ,pursuant 6subsec;n #gj7#b7 !
  taxpay]'s legal repres5tative may
  elect 6file a sep>ate return (! value
  (! dec$5t's "rs or ?+s & pay tax "!on
  =! tax,n ye> 9 : ! taxpay] di$ z if !
  taxpay] 7 ano!r p]son4 ,6be valid1 !
  elec;n m/ 2 made n lat] ?an ! lat] (
  "o ye> af ! date ( d1? & #ij "ds af !
  mail+ ( any notice ( assess;t or
  reassess;t =! ye> ( d1?4 ,if a     #ae
             ,,it-#bab;,r#c          a#f
  sep>ate return is fil$1 x m/ 9clude !
  total value ( all ! dec$5t's "rs or
  ?+s o!r ?an ^? transf]r$ 6b5efici>ies
  )9 ! "t provid$ 0subsec;n #gj7#c7 7see
  #be 2l74 ,= #aihh & subsequ5t tax,n
  ye>s1 ! p]sonal tax cr$its provid$ 9
  p>agraphs #aah7#a77a7 to 7d7 &
  subsec;n #aah7#b7 t apply 6! dec$5t's
  ord9>y 9come tax return =! ye> ( d1?
  may al 2 claim$ on ! sep>ate return
  fil$ pursuant 6subsec;n #gj7#b74 ,!
  p]sonal tax cr$its >e ! m>ri$ tax
  cr$it1 ! m>ri$ equival5t tax cr$it1 !
  basic p]sonal tax cr$it1 ! dep5dant
  tax cr$it &! age tax cr$it4 ,see !
  curr5t v].n ( ,,it-#eac 8,p]sonal ,tax
  ,cr$its04 ,! ext5t 6: deduc;ns "u
  sec;n #aaj & tax cr$its "u subsec;n
  #aah7#c7 & sec;ns #aah.a 6#aah.g &
  #aah.i may 2 claim$ on ! sep>ate
  return is 4cuss$ 9 ,,it-#cbf;,r#b
  8,returns ( ,dec1s$ ,p]sons z ,8,ano!r
  ,p]son0'04 7,prior 6#aihh1 ! p]sonal
  exemp;ns provid$ 0p>agraphs        #af
             ,,it-#bab;,r#c          b#f
  #aji7#a77a7 to 7h7 t appli$ 6!
  dec$5t's ord9>y return =! ye> ( d1? cd
  al 2 claim$ on ! sep>ate return fil$
  pursuant 6subsec;n #gj7#b74 ,! ext5t
  6: deduc;ns "u sec;ns #aaj1 #aaj.a &
  #aaj.b cd 2 claim$ on ! sep>ate return
  is 4cuss$ 9 ,,it-#cbf;,r47
#ba4 ,pursuant 6subsec;n #gj7#d71 an
  elec;n made "u subsec;n #gj7#b7 may 2
  revok$ if ! notice ( revoc,n is 9
  writ+1 sign$ 0! dec$5t's legal
  repres5tative & fil$ )9 ! "t = mak+ !
  elec;n4
#bb4 ,pursuant 6subsec;n #aaj.d7#e71 !
  =w>d av]ag$ am.t br"\ 969come pursuant
  6subsec;n #aaj.d7#b7 _c 2 report$ 9 !
  sep>ate return fil$ "u subsec;n
  #gj7#b74
#bc4 ,a sale (a "r or ?+ = gd & valua#
  3sid],n does n -e )9 ! m1n+ (! phrase
  8transf]r$ or 4tribut$0 z us$ 9
  subsec;n #gj7#c74

                                     #ag
        ,pay;t ( ,tax 9 ,9/al;ts     c#f
    
#bd4 ,! a4i;nal tax paya# 0virtue (
  subsec;n #gj7#b7 may 2 pd 9 up 6t5
  equal 3secutive annual 9/al;ts :5 !
  3di;ns 9 subsec;n #aei7#e7 >e met4
  ,see ,t#bjge 8,elec;n "u subsec;n
  #aei7#e7 0a
--------------------------------------#g
  dec1s$ taxpay]'s legal repres5tative
  6def] pay;ts ( 9come tax04

       ,recipi5ts ( ,"rs or ,?+s
    
#be4 ,": an e/ate1 tru/ or b5efici>y 7!
  recipi5t7 acquires a "r or ?+ ^u a
  taxpay]'s d1?1 ! tax 3sequ;es >is+
  "!from w dep5d on :e!r ! value ( t "r
  or ?+ 0 9clud$ 9 ! 9come (! dec1s$
  taxpay]'s 9come tax return "u subsec;n
  #gj7#b7 or 9 ! dec1s$ taxpay]'s 9come
  tax return =! ye> ( d1? or 9 ! h&s (!
  recipi5t "u subsec;n #gj7#c74
  7a7 ,": subsec;n #gj7#b7 applies or !
    "rs or ?+s >e 9clud$ 9 !         #ah
             ,,it-#bab;,r#c          a#g
    dec1s$ taxpay]'s 9come tax return =!
    ye> ( d1?1 ! recipi5t is deem$
    0p>agraph #fi7#a77c7 6h acquir$ !
    asset at a co/ equal 6xs fair m>ket
    value4 ,! fair m>ket value is norm,y
    ! gross am.t 7see #d abv7 us$ 9
    -put+ ! 9come (! dec$5t4 ,! 4posi;n
    (! asset 0! recipi5t w g5],y 2 on
    capital a3.t un.s ! recipi5t's
    activities 9 rel,n 6! asset >e s* t
    ! asset 3/itutes a trad+ asset4
  7b7 ,": a "r or ?+ has be5 transf]r$
    or 4tribut$ 6b5efici>ies (! e/ate n
    lat] ?an "o ye> af ! date ( d1? or
    #ij "ds af ! date ( mail+ ( any
    notice ( assess;t or reassess;t 9
    respect (! ye> ( d1?1 :i*"e is !
    lat] date1 subsec;n #gj7#c7 applies4
    ,": subsec;n #gj7#c7 applies1 !
    4posi;n is alw on 9come a3.t &! tax
    liabil;y >ises :5 ! b5efici>y
    r1lizes or 4poses (! asset4 ,9 a4i;n
    ": subsec;n #gj7#c7 applies1
    p>agraph #fi7#a77c7 does n       #ai
             ,,it-#bab;,r#c          b#g
    apply )! result t ! recipi5t's co/
    is det]m9$ "u subsec;n #fi7#a.a7 z !
    a7regate ( s* "p (! co/ (! prop]ty
    6! dec1s$ z 0 n deduct$ 9 -put+ !
    9come (! dec1s$ = any tax,n ye> &
    any exp5ditures made or 9curr$ 0!
    recipi5t 6acquire ! prop]ty4
  















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