Mrs. Dela Cruz owns a parcel of land worth P500,000 which she inherited from her father in 2003 when itwas worth P300,000. Her father purchased it in 1990 for P100,000. If Mrs. Dela Cruz transfer this parcel of land to her wholly owned corporation in exchange for shares of stocks of said corporation worth P450,000, Mrs. Dela Cruz taxable gain is
Mrs. Dela Cruz owns a parcel of land worth P500,000 which she inherited from her father in 2003 when itwas worth P300,000. Her father purchased it in 1990 for P100,000. If Mrs. Dela Cruz transfer this parcel of land to her wholly owned corporation in exchange for shares of stocks of said corporation worth P450,000, Mrs. Dela Cruz taxable gain is
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 82P
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Mrs. Dela Cruz owns a parcel of land worth P500,000 which she inherited from her father in 2003 when itwas worth P300,000. Her father purchased it in 1990 for P100,000. If Mrs. Dela Cruz transfer this parcel of land to her wholly owned corporation in exchange for shares of stocks of said corporation worth P450,000, Mrs. Dela Cruz taxable gain is
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