The individual taxpayer reported the following: Year 1 Year 2 Net income from business P 200,000 P

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The individual taxpayer reported the following: Year 1 Year 2 Net income from business P 200,000 P 300,000 Capital gain for asset held for more than a year 50,000 40,000 Capital loss for asset held for less than a year 40,000 10,000 The taxpayer should report taxable income in ye

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The individual taxpayer reported the following: Year 1 Year 2 Net income from business P 200,000 P

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