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.