How much gain should be reported for tax purposes?
Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions
Section: Chapter Questions
Problem 18DQ
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During the year, ABC bought a parcel of land amounting to P 600,000 for speculation only. Months have passed, a hospital was constructed adjacent to his land with market value of P 2,600,000. A prospective buyer offered Ricky plus 6%
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