50.1K

Verified Solution

Link Copied!

A resident citizen taxpayer sold a principal residence located in the Philippines. Other data regarding the sale are as follows:

Selling price - P5,500,000

Fair market value - 6,000,000

Zonal value - 5,850,000

Expenses on sale - 275,000

The individual taxpayer was able to comply all the requirements for exemption, however, the new principal residence was bought for P4,125,000.

Compute for the capital gains tax.

Group of answer choices

288,000

90,000

360,000

72,000

Flag question: Question 5

Question 55 pts

A resident citizen taxpayer sold share of stock of a domestic corporation though the local stock exchange at its fair market value amounting to P550,000. Cost of the shares sold is P300,000.

Compute for the capital gains tax.

Group of answer choices

0

P15,000

P33,000

P18,000

Flag question: Question 6

Question 65 pts

A resident citizen taxpayer sold share of stock of a domestic corporation directly to the buyer at its fair market value amounting to P600,000. Cost of the shares sold is P650,000.

Compute for the capital gains tax.

Group of answer choices

0

P7,500

P39,000

P97,500

Flag question: Question 7

Question 75 pts

A resident citizen taxpayer sold share of stock of a domestic corporation directly to the buyer at its fair market value amounting to P300,000. Cost of the shares sold is P220,000.

Compute for the capital gains tax.

Group of answer choices

P45,000

P33,000

0

P12,000

Answer & Explanation Solved by verified expert

See Answer