Question: Problem III: A taxpayer generated net income from trade amounting to P400,000. His capital assai transactions during 2020 are summarized as follows: Holding Period Amount

Problem III: A taxpayer generated net income from trade amounting to

Problem III: A taxpayer generated net income from trade amounting to P400,000. His capital assai transactions during 2020 are summarized as follows: Holding Period Amount Capital gain 6 months P50,000 Capital gain 2 years 45,000 Capital loss 12 months 23,000 Capital loss 28,000 a. How much is the taxpayer's taxable income? (5 points) 10 years

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