question archive Problem 2: Capital Gains Taxation For each of the following scenarios, compute the capital gains tax: ILLUSTRATIVE CASES CAPITAL GAINS TAX 1
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Problem 2: Capital Gains Taxation
For each of the following scenarios, compute the capital gains tax:
ILLUSTRATIVE CASES
CAPITAL GAINS
TAX
1. Sammy sold domestic stocks through the PSE at a gain of
P400,000
2. Sammy, a security dealer, sold domestic stocks, directly
to PSE at a gain of P400,000.
3. Sammy, a security dealer, sold domestic stocks directly
to a buyer at a gain of P400,000
4. Sammy, a realty dealer, sold domestic common stock to
HIJ, Inc. at a gain of P300,000.
5. BCC Inc. sold domestic stocks through PSE at a gain of
P400,000.
6. BBC Inc. issued its shares of stock at P300,000 in excess
of its par value.
7. BBC Inc. exchanged th3e shares of HIJ, Inc it acquired
for P1,000,000 for a lot valued at P1,400,000.
8. Sammy sold his investment in domestic stocks to the
issuing Company, BBC Inc. The transaction realized a gain of P300,000.
9. Sammy sold domestic bonds through the PDEX at a gain of
P100,000.
10. Sammy sold domestic bonds directly to a buyer ata
gain of P400,000.
11. Sammy sold his interest in a partnership for P400,000. His interest had a tax basis of P300,000 atthe
date of sale.
12. BBC, Inc. acquired HIJ stock rights forP200,000.
BBC subsequently disposed this rights for P400,000.
13. Sammy purchased a stock option from HIJ,Inc. Subsequently, Sammy sold this options at a gainof
P50,000.
14. Andy purchased domestic common stock forP100,000
and sold the same for P180,000. At the date of sale the stock has a fair market value of P210,000.
15. Andy purchased ordinary shares for P200,000 from DEF, Inc., a resident corporation operating in the Philippines. After 2 years, it sold the same directlyto
buyer for P300,000 when the fair market value was P280,000.
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