Scribd Logo
Upload

Welcome to Scribd!

  • Chapter 6-2 PDF

    Uploaded by

    Fely Maata
    464 views3 pages

    Original Title

    chapter 6-2.pdf

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    464 views3 pages

    Chapter 6-2 PDF

    Uploaded by

    Fely Maata

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 3
    Chapter 6 - Capital Gains Taxation mst t tt e ot 2 fem ttm eas op 15,000 shares for P12/ inon the wash sels apt apap 600 Teper cartes 3000 i bran sipzoo00 . 4 waco on 15000 hares cia ee preceding problem? opis oso B ricoo00 Gereo% of stocks of Achievers Corporation direct : ares shares was P85, Isidro purchased the shares for Bgp ‘shares had a selling price of P120 per share. 7. Isidro sold 1,500 sh 1 share's par value per ‘each. On the date of sale. the ‘What isthe capital gains taxon the sale? a P2625 P6607 b. P2250 @.Puia7s 6. Mr Pangan prcated domestic toc which were priced at 150% above thee remarry He sold the tocks when ther fale vale Zoe fe Faas tay soeeoury samp and 30000 Ih cOMMsHON expences on ie sale Compute the selling price of the stocks a P3,000000 -P 1,500,000 b, P2500000 4.P 1,000,000 9, Compute the capital gains tax a P1432, b. 152750 ©. P 153,725 4.P222375 10. On june 20, 2019, Mr. Lito led the capital gains tax return involving the sale of domestic stocks on February 20, 2019. The net gain was P140,000. Compute the total amount due including penalties except compromise penalty, a P26880 cP b. P21,500 ap Multiple Choice Problems: Part 3 1. A taxpayer purchased building to be used as a future plant site. The buldng femained used or 3 ye decline in customer's demand in product of the taxpayer. The taxpayer eventually disposed the property. What i {he classification of the property” oes a Ordinary asset kither A or B atthe di Capital asset 46 the BIR Ar B depending on the intent of the buyet 26 ‘Chapter 6 - Capital Gains Taxation Assuming the same data in the preceding number exc th wat not disposed of but the same was used as a sales out shh tbe ayer is not engage in rea estate business the taxpayer is not engaged in realestate business 3. Anderson disposes a vacant lat for P3,000,000. The lot has an Assessor's fair value ‘of F 2,800,000, zonat value of 3.200.000, and an appraisal value of P3,500,000. ‘What isthe capital gains tax? a PO ©. 192,000 bP 180,000 4.P 210.000 Puerto Princesa Company sold ts parking lot for P2,000,000. The lot has a zonal value of P2,500,000 and appraisal value of P1,800,000. The capital gains tax on © P.120000 b. P108,000 4.P 150,000 5, Mr. Antonio disposed his principal residence for P2,000,000 and immediately ‘acquired 4 new one for P1,800,000. The old residence cost Mr. Antonio 1,000,000 and had a fair market value of P2,500,000 on the date of sae, ‘Compute the capital gains tax to be deposited in escrow. a Po ©. 320,000 b. P60,000 .P150,000 6, What would be the tax basis of Mr. Antonio's new residence? a P1,300,000 © P900,000, b. P1.000,000 4P 800,000 How much ofthe capital gains tax a. P150,000 €.120,000 b P135,000 4.P15,000 ‘On August 15, 2020, Ms. Mones sold a 5U0-square meter residential house and lot for P3,000,000. The house was acquired in 2005 at P2,000,000. The Assessor's fair market values of the house and lot, respectively, were 1,500,000 and 1,000,000. The zonal value of the lot was P5,000 per square meter. is the capital gains tax? 80,000 150,000 20,000 4.P240,000 27 chapter 6 - Captal Gans Tarator do nec i pina GENCE (NSE ang iyg . athe rome hd = Pra 9. Manny, eset pe of P10 arehase its ongin valle at tat tie. severe not invested ithe NeW PFINCIpl residence soo.000 were used to construct by, capal pains ibe proved of he ae es st ¥ €,P750,000 a PO 660,000 4.780.000 re baced onthe following information: [Numivers 10 through 120 ta with far market vatue of 12,000,000 fy Me. Pepto sold his residenbal and in Ma] 10,000,000. ofthe P10,000,000 in buying a house and lot to be used, fence, the final tax due from him is a ©. P120,000 » P600,000 aro 11 f Me Pepto tized only P7,000,000 from the proceeds ofthe sale im acquiring new resience, the ial a de from hm is a P720.000 P2180,000 b P216.000 aro 12. Thedocumentary stamp tax due onthe sale is a PI79.895 €.P149,905, b P180,000 4.P150,000 Carmen Corporation for the shares jon. The stocks acquired by Mr. Quirino represent 3,000,000 5,000,000, 4,500,000, Whar isthe capita gas tax? 2 PO .P145.000 14.P22¢ 000 tothe mesial preceding problem, what isthe asso the stocks received by a PO 3,000,000 «©-P4500,000 «.P5,000,000 218 chapter 6- Capital Gains Taxation exchanged his DEF shares for the shares of EFG pursuant toa plan of, Mieager Mr Eller bought his shares for P300,000, The shares hod fair value 71 300.000 on the date of exchange. Mr Eller received EFG shares with flr fale Pi, 300.00 plus cash 200,000. Compute the capital gains tax a PO

    You might also like