Juan, a non-resident Filipino, sold his stocks in San Gabriel, Inc., a domestic corporation, directly to buyer and received P200,000 cash plus a car with fair value of P100,000. The car has a depreciated value of 90,000 and was previously bought by the owner for P500,00O. The shares sold by Juan were inherited by him. The fair value of the stocks at the time of inheritance was P50,000. The fair value of the stocks at the time of sale was P90,000. Compute the capital gains tax: а. Р31,500 b. P36,000 c. P37,500 d. Not subject to capital gains tax

Q: Nicanor, a Non-Resident Alien residing in Canada, bought 20,000 (@par value of Php 100) shares of…

A: As per the provisions of BIR .  a non-resident alien is charged for…

Q: How much can he deduct as a business expense on his income tax return

A: Given information is: Paul is the proprietor of a home based business.  He paid $25,000 to his…

Q: "A" owns 100 shares of Humdrum Corporation which he purchased several years ago for $10,000.  What…

A: Given that: Cost of 100 shares = $10,000

Q: Lassen Corporation sold a machine to a machine dealer for $20,000. Lassen bought the machine for…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: Kara sold to Mia shares of stock of a foreign corporation at a selling price of P1,000,000 with an…

A: Answer: As per Bureau of revenue department at Philippines, the capital gain is applicable for the…

Q: Ahmad invested $3,000 and purchased shares of a German corporation when the exchange rate was $1.00…

A: Given: Purchased shares of German corporation =$3000  (when exchange rate was $$1.00 = €1.06)Sold…

Q: Barry sold depreciable property used in his business to Ken for $192,000 cash plus a bond redeemable…

A: Cash received on sale of property=$192,000 5 years redeemable bonds=$95000 Current value=$98000…

Q: at purchase was $69159 and Sri's

A: Dividend received from Canadian corporation =   $1878 Earnings after selling his holdings…

Q: Mr. De Vega decided to sell his 5,000 shares of stocks of ZYZ Corporation (Domestic Corporation)…

A: Documentary stamp tax is a tax payable to the Government on a variety of transactions such as the…

Q: not traded th

A: Capital Gain Tax = 15% Capital Gain on Real Property situated in Philippines = 6% higher of the…

Q: Miguel is a citizen and resident of Brazil. During the current vear, Miguel never visits the…

A: Solution Tax rate is the rate at which an individual or corporation is taxed.

Q: X is a resident citizen, realized the following gains from the sale of assets: Capital Gains on…

A: Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the seller from…

Q: Hi, please help me with this question.   Several years ago, Minjun, who is single, acquired § 1244…

A: Gains: Gains are the profits earned from non-operating activities of a business like sale of land,…

Q: Juan, a non-resident Filipino, sold his stocks in San Gabriel, Inc., a domestic corporation,…

A: Capital gain tax is the tax on sale of capital assets during the year.

Q: Kajala, a Malaysian resident, disposed of her properties as follows: In 2013 she sold a shop house…

A: Findings from the question: Purchase price of shop house = RM 360,000 Sale price of  shop house = RM…

Q: In accordance with a court order under the Family Law Act 1975 (Cth), Timothy transfers 100 shares…

A: Answer: d. The capital gain made by Timothy from the disposal is disregarded. The first element of…

Q: Chantal holds 51% stock of DDK Corp, Inc., a Filipino corporation. In turn, DDK Corp, Inc. owes BDO…

A: Holding Share: A holding company is a kind of corporation that is formed by people for the purpose…

Q: Several years ago, Minjun, who is single, acquired § 1244 stock in Blue Corporation at a cost of…

A: Capital loss: When the value of a capital asset, such as an investment or real estate, declines, a…

Q: Sue has 5,000 shares of Sony stock that have an adjusted basis of $27,500. She sold the 5,000 shares…

A: Given: Number of shares = 5000 Cost of shares = $27,500 Sale value of shares = $10,000 Land value =…

Q: Julian transferred 100 percent of his stock in Lemon Company to Apricot Corporation in a Type B…

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: In 200A, Mr. Rosario acquired his principal residence for P6,000,000. He sold it to Mr. Dela Cruz…

A: Taxable Income:- It is the income on which one pays tax as per rate prescribed by the taxation…

Q: uired § 1244 stock in Blue Corporation at a cost of $83,600. He sells the Blue stock for $8,360 in…

A: Given:  Mohammed, who is single, acquired § 1244 stock in Blue Corporation at a cost of $83,600. He…

Q: Captain Jack Sparrow exchanges qualified property, basis of $25,000 and fair market value of…

A: Investment Gain or loss: Subtract the selling price from the original purchase price to arrive at…

Q: Barry sold depreciable property used in his business to Ken for $192,000 cash plus a bond redeemable…

A: Step 1 Hello. Since your question has multiple parts, we will solve first question for you. If you…

Q: ied leaving the following properties: Air BNB villa in Palawan, which is acquired before marriage,…

A: Conjugal Partnership of Gains refers to the concept when the spouse puts up a common fund place to…

Q: Juan bought a certain piece of lot for P300,000. After 2 years, when its fair value was P500,000, he…

A: The sale consideration for a transfer of property shall be considered as higher of - 1) Fair Value…

Q: Mr. Ramos, a non-resident citizen, sold shares of stocks of a domestic corporation directly to a…

A: Capital gains refer to profit earned on the sale of capital assets. Ordinary income and capital…

Q: Sri owns shares in a Canadian Corporation that paid him $1493 in dividends in 2020. In addition, he…

A: In this question, we will calculate that  how much tax does Sri paid.

Q: Dimas owns a parcel of land worth P5,000,000 which he inherited from his father in 2018 when it was…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: At her death, Chow owned 55% of the stock in Finch Corporation, with the balance held by family…

A: Given :  Average net profits of $1,710,000 The book value of its stock is $4,275,000. Rate of return…

Q: Jack, an individual calendar-year taxpayer engaged in the following transactions: Purchased 100…

A: As per TCGA, capital losses may be deducted only to the extent of capital gains during the year ( No…

Q: Nicanor, a Non-Resident Alien residing in Canada, bought 20,000 (@par value of Php 100) shares of…

A: Cost of securities = 20000 shares x 100 = P2000000 Sales price = P 4000000

Q: Marlo, a resident citizen, realized the following gains from the sale of assets: Capital Gains on…

A: Capital Gain Tax on Shares not traded through PSE = 15% Capital Gain on Real Property situated in…

Q: Euclid bought 500 shares of common stock five years ago for $50,000. This year, Euclid receives 20…

A: Provisions of section 305 are based on the equivalent interest concept in its current state. As per…

Q: What is correct?

A: Given information is: Auntie sold some stock she purchased several years ago for $10,000 to Niece…

Q: Kajala, a Malaysian resident, disposed of her properties as follows: In 2013 she sold a shop house…

A: Property tax gain is the tax charged by the central government and state government on the gain on…

Q: Anji, a resident citizen, realized the following gains from the sale of assets: Capital Gains on…

A: Capital Gain Taxes In  Philippines the calculation of capital gain taxes which can be taken consider…

Q: Mrs. Dela Cruz owns a parcel of land worth P500,000 which she inherited from her father in 2003 when…

A: Here discuss about the calculation of taxable gain in the sale and exchange of the parcel and which…

Q: Irene sold his stocks in Seulgi Corporation (domestic corporation) to a foreign investor at a gain…

A: Income:- Income is defined as the money that an individual or business can earn, usually in exchange…

Q: Mrs. Dela Cruz owns a parcel of land worth P500,000 which she inherited 3 points from her father in…

A: Taxable gain refers to the profit which results from the sale of the asset which is subject to the…

Q: Lily and Mary owed Jake P500,000.00 for advancing their equity in a corporation they joined as…

A: Solidary obligation defines a legal relationship where one or more of several debtors are each…

Q: Anne has 5,500 shares of Sony stock that have an adjusted basis of $35,750. She sold the 5,500…

A: Gain or Loss upon sales of Stock - At the time of selling stock, taxpayer either receive gain or…

Q: Karen, in forming a new corporation, transfers land to the corporation in exchange for 100 percent…

A: Answer a) Computation of amount of gain or loss that must be recognized on the transfer is as…

Q: Marlo, a resident citizen, realized the following gains from the sale of assets: Capital Gains on…

A: Capital gain tax in the Philippines is 6% of the capital gain

Q: Julian transferred 100 percent of his stock in Lemon Company to Apricot Corporation in a Type B…

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: Mr. Omagana, a resident Japanese, owned 2,000 common shares of San Miguel Corporation with book…

A:

Q: Sue has 5,250 shares of Sony stock that have an adjusted basis of $31,500. She sold the 5,250 shares…

A: Given SUE has 5,250 shares of SONY stock that have an adjusted basis of $31,500.She sold the 5,250…

Q: EEE, Filipino, residing in Toronto, made the following donations during the calendar year 2020:…

A: Answer:-  Donation tax definition:- Donation can be defined as something that is given to charity to…

Q: 1) Stock in A Corp. that he purchased on July 14, Year 1, for $40,000. 2) Stock in B Corp. that…

A: As per our protocol we provide solution to the one question or to the first three sub-parts only but…

Q: What is Barbara's recognized gain or loss in the current year related to this exchange?

A: Given facts:  Fair value of old property = $330,000  Adjusted basis of old property = $275000  Fair…