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How much is the capital gain subject to capital gains tax

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Reference no: EM132842292

Mr. Rex derived the following income in 2019:

Business income P 200,000

Compensation Income 300,000

Interest Income from 5/6 100,000

Lending to clients Interest income from bank 20,000 deposit Royalty income 100,000

Capital gains on sale of 20,000 personal car

Capital gain on the sale of stocks directly to a buyer 40,000

Ordinary gain on sale of stocks directly to a buyer 10,000

Dividend income 50,000

Problem 1: How much is the capital gain subject to capital gains tax?

A. P0

B. P60,000

C. P70,000

D. P40,000

Reference no: EM132842292

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