LCGE Qualification Check
lcge_qualification_checkDetermine whether corporation shares qualify for the Lifetime Capital Gains Exemption by assessing the 90% asset test, 50% active business test, and CCPC status.
Instructions
Determine if corporation shares qualify for the Lifetime Capital Gains Exemption ($1,016,836 for QSBC shares). Checks the 90% test, 50%/24-month test, and CCPC status.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| is_ccpc | No | Is it a CCPC? | |
| expected_gain | Yes | Expected capital gain on share sale ($) | |
| available_lcge | No | Remaining LCGE available to the individual ($) | |
| total_assets_fmv | Yes | Total FMV of all corporate assets ($) | |
| held_for_24_months | No | Have shares been held by taxpayer (or related) for 24+ months? | |
| passive_investments_fmv | Yes | FMV of passive investments, portfolio shares, excess cash ($) | |
| active_business_assets_fmv | Yes | FMV of assets used in active business ($) | |
| active_assets_during_24months_pct | No | Lowest % of assets that were active business assets during the 24-month holding period |