On March 1, 2021, Lala received a building property from her parents as inheritance with fair market value of P10,000,000.00. The property was acquired for P8,000,000.00 five years ago by her parents. The monthly rental income of the property is P100,000.00 with an average monthly expense of P20,000.00. Lala's taxable income for the year, if any is
On March 1, 2021, Lala received a building property from her parents as inheritance with fair market value of P10,000,000.00. The property was acquired for P8,000,000.00 five years ago by her parents. The monthly rental income of the property is P100,000.00 with an average monthly expense of P20,000.00. Lala's taxable income for the year, if any is
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 33P
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On March 1, 2021, Lala received a building property from her parents as inheritance with fair market value of P10,000,000.00. The property was acquired for P8,000,000.00 five years ago by her parents. The monthly rental income of the property is P100,000.00 with an average monthly expense of P20,000.00. Lala's taxable income for the year, if any is:
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