Jose is a resident citizen in the philippines. Taxable period 2021.particularsamountgross sales2,500,000sales discount130,000senior citizen discount granted (20%)160,000Cost of sales1,000,000operating expenses500,000repairs for pwd facilities150,000Compute for theREGULAR ITIMIZED DEDUCTIONS to be claimed against gross income500,000650,000660,000810,000Compute for the SPECIAL ITIMIZED DEDUCTIONS to be claimed against gross income160,000235,000310,000385,000

According to the Bureau of Internal Revenue, regular itemized deductions are expenses that are…

Answered: Compute for theREGULAR ITIMIZED…

Compute for theREGULAR ITIMIZED DEDUCTIONS to be claimed against gross income 500,000 650,000 660,000 810,000 Compute for the SPECIAL ITIMIZED DEDUCTIONS to be claimed against gross income

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter25: Taxation Of International Transact Ions

Section: Chapter Questions

Problem 29P

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Question

Jose is a resident citizen in the philippines. Taxable period 2021.

particulars	amount
gross sales	2,500,000
sales discount	130,000
senior citizen discount granted (20%)	160,000
Cost of sales	1,000,000
operating expenses	500,000
repairs for pwd facilities	150,000

Compute for theREGULAR ITIMIZED DEDUCTIONS to be claimed against gross income

500,000
650,000
660,000
810,000

Compute for the SPECIAL ITIMIZED DEDUCTIONS to be claimed against gross income

160,000
235,000
310,000
385,000

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