Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. COMPUTE FOR THE ESTATE TAX PAYABLE, IF ANY. 2. SOLUTION 3. BASED ON PHILIPPINE TAXING LAWS. Relevant information: Juan Reyes Dela Cruz, single and
1. COMPUTE FOR THE ESTATE TAX PAYABLE, IF ANY.
2. SOLUTION
3. BASED ON PHILIPPINE TAXING LAWS.
Relevant information: Juan Reyes Dela Cruz, single and a Filipino citizen, died on February 14, 2020. At the time of his death, he resides in N. Reyes St., Sampaloc, Manila. In filing his estate tax return, the BIR RDO No. 032 - Manila assigned Taxpayer Identification No. 123- 456-789-0000 to his estate. On the other hand, YOU, as the administrator of his estate was given TIN no. 987-654-321-0000. The following are the composition of his estate: 1. Lot 2. House and Lot (Family home) 3. Cash (Bank of Macabebe - Account No. 14344) - Php 2,000,000.00 Lot 001 11-01 Additional information: Details Title No. Tax Declaration No. - Land Tax Declaration No. - House Location Area Classification House and Lot 002 11-02 11-03 N. Reyes St, Manila 100sqm Residential San Isidro, Macabebe, Pampanga 100 sqm Agricultural Details Lot in Pampanga Lot in Manila House Zonal Value Php 3,000,000.00 Php 3,000,000.00 Assessed Value Php 1,000,000.00 Php 2,000,000.00 Php 2,000,000.00 Relevant information: Juan Reyes Dela Cruz, single and a Filipino citizen, died on February 14, 2020. At the time of his death, he resides in N. Reyes St., Sampaloc, Manila. In filing his estate tax return, the BIR RDO No. 032 - Manila assigned Taxpayer Identification No. 123- 456-789-0000 to his estate. On the other hand, YOU, as the administrator of his estate was given TIN no. 987-654-321-0000. The following are the composition of his estate: 1. Lot 2. House and Lot (Family home) 3. Cash (Bank of Macabebe - Account No. 14344) - Php 2,000,000.00 Lot 001 11-01 Additional information: Details Title No. Tax Declaration No. - Land Tax Declaration No. - House Location Area Classification House and Lot 002 11-02 11-03 N. Reyes St, Manila 100sqm Residential San Isidro, Macabebe, Pampanga 100 sqm Agricultural Details Lot in Pampanga Lot in Manila House Zonal Value Php 3,000,000.00 Php 3,000,000.00 Assessed Value Php 1,000,000.00 Php 2,000,000.00 Php 2,000,000.00Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started