Which among the following transactions is subject to capital gains tax? * Transfer through adjudication of real property to an heir as a result of an extrajudicial partition. Sale by a religious organization of a land and its improvements used for religious purposes, and the proceeds thereof shall be used to purchase a new church site and construction of a church building thereon. Consolidation of more than one title owned by the same owner into one mother title. Sale by an individual of a condominium unit which is his principal place of residence.
Which among the following transactions is subject to capital gains tax? * Transfer through adjudication of real property to an heir as a result of an extrajudicial partition. Sale by a religious organization of a land and its improvements used for religious purposes, and the proceeds thereof shall be used to purchase a new church site and construction of a church building thereon. Consolidation of more than one title owned by the same owner into one mother title. Sale by an individual of a condominium unit which is his principal place of residence.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which among the following transactions is subject to capital gains tax ? *
Transfer through adjudication of real property to an heir as a result of an extrajudicial partition.
Sale by a religious organization of a land and its improvements used for religious purposes, and the proceeds thereof shall be used to purchase a new church site and construction of a church building thereon.
Consolidation of more than one title owned by the same owner into one mother title.
Sale by an individual of a condominium unit which is his principal place of residence.
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