How much shall be reported as net capital gain or loss subject to rules on regular...
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How much shall be reported as net capital gain or loss subject to rules on regular income tax? ATRIG Corporation sold some of its capital assets and derived gain or loss as follows: Item Truck 1 Truck 2 Shares sold directly to buyer Land located in Cebu Equipment Holding Period 3 years 9 months 5 years 10 years 4 years Gain/Loss (P350,000) (90,000) 400,000 1,200,000 120,000 How much shall be reported as net capital gain or loss subject to rules on regular income tax? ATRIG Corporation sold some of its capital assets and derived gain or loss as follows: Item Truck 1 Truck 2 Shares sold directly to buyer Land located in Cebu Equipment Holding Period 3 years 9 months 5 years 10 years 4 years Gain/Loss (P350,000) (90,000) 400,000 1,200,000 120,000
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SOLUTION To calculate the net capital gain or loss subject to rules on regular income tax we need to ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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