Mr. A sold his family home for P5,000,000. He bought the land for P1,000,000 and...

80.2K

Verified Solution

Question

Accounting

Mr. A sold his family home for P5,000,000. He bought the land for P1,000,000 and introduced improvements therein for a total cost of P2,000,000. 



What is the amount of capital gains tax due from the sale of the property?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students