Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mr. Bean bought shares of stock somewhere on 2002 at a cost of P 100.000. He donated these shares to Mr. Pork on August 3,
Mr. Bean bought shares of stock somewhere on 2002 at a cost of P 100.000. He donated these shares to Mr. Pork on August 3, 2014. during which time, the said shares has a fair market value of P 1,000,000 and on the basis of such fair market value. Mr. bean paid the corresponding donor's tax, Mr. Pork, the done sold the shares on January 5, 2015 for a consideration of P 2,000,000. Based on the foregoing information, how much is the capital gain (loss) from the sale of shares of stock
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started