Problem 5. 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:
Problem 5. 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:
Chapter13: Property Transactions: Determination Of Gain Or Loss, Basis Considerations, And Nonta Xable Exchanges
Section: Chapter Questions
Problem 57P
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Problem 5. 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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