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Cost of the principal residence (property was acquired in 2000) Fair market value of land as per tax declaration (based on the latest tax declaration) Fair market value of house as per tax declaration (based on the latest tax 2,000,000 3,000,000 2,000,000

Cost of the principal residence (property was acquired in 2000) Fair market value of land as per tax declaration (based on the latest tax declaration) Fair market value of house as per tax declaration (based on the latest tax 2,000,000 3,000,000 2,000,000

Individual Income Taxes
Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 53P
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51.)
Cost of the principal residence (property was acquired in 2000) 2,000,000 Fair market value of land as per tax declaration (based on the latest tax 3,000,000 declaration) Fair market value of house as per tax declaration (based on the latest tax 2,000,000 declaration) Zonal value of the land as determined by the 4,000,000 CIR Additional information: • He acquired a new principal residence amounting to P 3,000,000 located in Sampaloc, Manila last March 17, 2021. • His TIN is registered in Makati where he works as an employee of ABC Corp while the TIN of the buyer of his principal residence is registered in Caloocan. In what RDO will Nicanor file the capital gains tax return? a. RDO in Makati b. RDO in Manila O c. RDO in Caloocan O d. RDO in Quezon City MacBook Air 80 DII F3 F4 F6 F7 F8 F9
Transcribed Image Text:Cost of the principal residence (property was acquired in 2000) 2,000,000 Fair market value of land as per tax declaration (based on the latest tax 3,000,000 declaration) Fair market value of house as per tax declaration (based on the latest tax 2,000,000 declaration) Zonal value of the land as determined by the 4,000,000 CIR Additional information: • He acquired a new principal residence amounting to P 3,000,000 located in Sampaloc, Manila last March 17, 2021. • His TIN is registered in Makati where he works as an employee of ABC Corp while the TIN of the buyer of his principal residence is registered in Caloocan. In what RDO will Nicanor file the capital gains tax return? a. RDO in Makati b. RDO in Manila O c. RDO in Caloocan O d. RDO in Quezon City MacBook Air 80 DII F3 F4 F6 F7 F8 F9
On March 18, 2021, Nicanor consulted you on the sale of his principal residence located in Recto, Manila last March 15, 2021. The following are the information he provided to you: Selling price P 4,000,000 Cost of the principal residence (property was acquired in 2000) 2,000,000 Fair market value of land as per tax declaration (based on the latest tax 3,000,000 declaration) Fair market value of house as per tax declaration (based on the latest tax 2,000,000 declaration) Zonal value of the land as determined by the CIR 4,000,000 Additional information: • He acquired a new principal residence amounting to P 3,000,000 located in Sampaloc, Manila last March 17, 2021. • His TIN is registered in Makati where he works as an employee of ABC Corp while the TIN of the buyer of his principal residence is registered in Caloocan. In what RDO will Nicanor file the capital gains tax return? O a. RDO in Makati O b. RDO in Manila MacBook Air 80 DII F3 F5 F7 F8 F9
Transcribed Image Text:On March 18, 2021, Nicanor consulted you on the sale of his principal residence located in Recto, Manila last March 15, 2021. The following are the information he provided to you: Selling price P 4,000,000 Cost of the principal residence (property was acquired in 2000) 2,000,000 Fair market value of land as per tax declaration (based on the latest tax 3,000,000 declaration) Fair market value of house as per tax declaration (based on the latest tax 2,000,000 declaration) Zonal value of the land as determined by the CIR 4,000,000 Additional information: • He acquired a new principal residence amounting to P 3,000,000 located in Sampaloc, Manila last March 17, 2021. • His TIN is registered in Makati where he works as an employee of ABC Corp while the TIN of the buyer of his principal residence is registered in Caloocan. In what RDO will Nicanor file the capital gains tax return? O a. RDO in Makati O b. RDO in Manila MacBook Air 80 DII F3 F5 F7 F8 F9
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