one for P1,800,000. The old residence cost Mr. Antonio P1,000,000 and had a fair value of P2,500,000 on the date of sale. Compute the capital gains tax to be deposited in escrow.

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter13: Property Transactions: Determination Of Gain Or Loss, Basis Considerations, And Nonta Xable Exchanges
Section: Chapter Questions
Problem 77P
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Question
Mr. B disposed his principal
2 points
residence for P2,000,000 and
immediately acquired a new
one for P1,800,000. The old
residence cost Mr. Antonio
P1,000,000 and had a fair
value of P2,500,000 on the
date of sale. Compute the
capital gains tax to be
deposited in escrow.
Your answer
Transcribed Image Text:Mr. B disposed his principal 2 points residence for P2,000,000 and immediately acquired a new one for P1,800,000. The old residence cost Mr. Antonio P1,000,000 and had a fair value of P2,500,000 on the date of sale. Compute the capital gains tax to be deposited in escrow. Your answer
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