Determine the total amount exempt from income tax

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Question - JJ Bibo, a national athlete, received the following during 2018:

Ramon Magsaysay award 50,000.00

Athlete of the year award 100,000.00

Prize - KFC raffle 5,000.00

Prize for winning an Olympic Medal 500,000.00

Gift from Yorme 250,000.00

Car from Honda Cars Philippines , as a gift 1,000,000.00

Winnings - Philippine lotto 100,000.00

Gambling winnings 500,000.00

Required - Determine the total amount exempt from income tax.

Reference no: EM133123287

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