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Following the death of an elderly uncle, Maurice inherited investments he held in publicly traded company shares. At the time of death, the fair market value (FMV) of the investments was $2,000,000. These investments were held in a non-registered portfolio (in other words, they were not held in RRSPs or TFSAs) and had been acquired at a cost of $500,000 by your uncle. What are the tax consequences of this inheritance for Maurice? A) No tax consequences for Maurice. B) Maurice will have to include a taxable capital gain of $1,000,000 in his income. C) Maurice will have to include $2,000,000 in income. D) Maurice will have to include a taxable capital gain of $750,000 in his income.
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