Question: Solve these tax problems regarding deductions A resident alien sustained the following losses during the year Fire loss on his uninsured residence in Manila P

Solve these tax problems regarding deductions

Solve these tax problems regarding deductions ASolve these tax problems regarding deductions A
A resident alien sustained the following losses during the year Fire loss on his uninsured residence in Manila P 2,000,000 Damage sustain by an insured vehicle in a 400,000 collision Various uncollectible customers account 80,000 Loss on the sale of domestic bonds 50,000 Loss on the sale of obsolete equipment and 120,000 supplies Impairment loss on unsold inventories 30,000 Value of uninsured machineries robbed in a 300,000 Thailand Branch Determine the total amount of reportable losses in the income tax return. PDL Incorporated maintains a defined contribution plan. It contributed 500,000 and 700,000 in 2019 and 2020. 20% of these amounts pertains to employee share pre deducted from their bonuses Compute the deductible pension expense. P

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