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Compute the total winnings not subject to income tax

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Reference no: EM132725391

Question - Mr. velasco, a national athlete received the following during the year:

Ramon Magsaysay award P50,000

Athlete of the year award 100,000

Prize- Jolibee raffle 5,000

Prize for winning the silver Olympic medal 500,000

Gift from mr. Alfred Lim 250,000

Car from Nissan as a gift 1,000,000

Winnings- Philippine sweepstake 100,000

Gambling winnings 500,000

Required - Compute the total winnings/awards and prizes not subject to income tax?

Reference no: EM132725391

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