TAX > INCOME TAX > CAPITAL ASSETS, SALES, EXCHANGES OF PROPERTIES

DITO TITINGNAN MO LANG KUNG MAY CAPITAL GAINS BA AT CAPITAL LOSS

MAGBABAWAS KA LANG NAMAN NG CAPITAL LOSS KAPAG MAY CAPITAL GAINS.

ORDINARY GAINS AT ORDINARY LOSS, PART NAMAN TALAGA YAN SILA PARA
MACOMPUTE UNG NET INCOME NI INDIVIDUAL. PERO YUNG CAPITAL GAINS AND
CAPITAL LOSS MAY REQUIREMENTS PA.

MATRIX

NET INCOME

XXX

ADD: OTHER INCOME

XXX

ADD: SALE OF CAPITAL ASSETS

PROVIDED POSITIVE YUNG AMOUNT,

KAPAG NEGATIVE, BAWAL DEDUCT
YUNG CAPITAL LOSS SA ORDINARY
INCOME SUPREME RULE.

SHORT TERM
CAPITAL GAINS (100%)
XXX
LESS: CAPITAL LOSS (100%)
(XX)
LONG TERM
CAPITAL GAINS (50%)

(XXX*50%) XXX

LESS: CAPITAL LOSS (50%)-(XXX*50%) (XX)

CAPITAL LOSS CARRY OVER

(XX)

XXX

NET INCOME BEFORE EXEMPTION

XXX

LESS: BAPE

XXX

AAPE

XXX

HHIP

XXX,

TAXABLE NET INCOME

(XX)
XXX

INCOME TAX DUE

XXX

LESS: TAX CREDITS

(XX)

EXTENT IS NET INCOME OF PRIOR

YEAR, OR AMOUNT OF CAPITAL GAIN
THAT CAN ABSORB, WHICHEVER IS
LOWER.

INCOME TAX PAYABLE

XXX