Question: In February, the taxpayer bought a lot deemed as capital asset. The acquisition cost was

P840,000. He later sold the house in December for P1,060,000.

In September, the taxpayer sold his 560 shares of stock of Ayala Investment Corporation

held by him as capital asset, thru a local stock exchange. The cost was P36,900 whereas the sale

price was P154,000.

In October, the taxpayer sold for P820,000 his house and lot located at Makati, held as

capital asset (not his principal residence). The fair market value on the date of the sale was

P950,000 and the acquisition cost was P475,000,

1. Determine the following assuming the taxpayer is a resident citizen:

a. Taxable net income

b. Income tax payable

c. Final tax on passive income

d. Capital gains tax

2. Determine the following assuming the taxpayer is a non-resident citizen:

a. Taxable net incomeb. Income tax payable

c. Final tax on passive income

d. Capital gains tax

3. Determine the following assuming the taxpayer is a NRA-ETB:

a. Taxable net income

b. Income tax payable

c. Final tax on passive income

d. Capital gains tax