ANSWER ONLY, NO SOLUTION AND EXPLANATION NEEDED

URGENT!

1. Mr.Bonifcio purchased a piece of land in 2011 for P500,000 when it was worth P450,000. He transferred the property when it was worth P1,000,000. Subsequently, Mr. Bonifacio died when the property was worth P1,200,000

Assuming that the donation is donation inter-vivos, what is the value to be subjected to donor tax?

A. P450,000 c. P1,000,000

B. P500,000 d. P1,200,000

2..Assuming that the donation is a donation mortis causa, what is the value to be subjected to estate tax?

A. P450,000 c. P1,000,000

B. P500,000 d. P1,200,000

Man Juan transferred a property with a fair value of P1,000,000. Title to the property was stipulated to be transferred immediately. Subsequently, Mang Juan died. The propery was worth P800,000 at the date of his death

Which is correct?

A. The property is subjected to donor's tax at P1,000,000

B. The property is subjected to donor's tax at P800,000

C. The property is subjected to estate tax at P800,000

D. The property is subjected to estate tax at P1,000,000

Assume instead that the title to the property was reserved by Mang Juan until death, which is correct?

A.The property is subjected to donor's tax at P1,000,000

B. The property is subjected to donor's tax at P800,000

C.The property is subjected to estate tax at P800,000

D. The property is subjected to estate tax at P1,000,00

A resident citizen died leaving the following property at the point of his death:

Fair Value Acquisition cost

House and Lot P4,000,000 P2,000,000

Car 800,000 1,200,000

Agricultural land 2,100,000 500,000

Compute the amount of the donation mortis causa.

A. P 0 c. P 4,000,000

B. P 3,700,000 d. P 7,300,000

A donor transferred the following properties on a certain day:

Philippines Abroad

Cash P400,000 P0

Land 1,000,000

Car 3,000,000

Assuming the donor is a resident citizen, what is the amount of the donation inter-vivos?

A. P 1,000,000 c. P 4,000,000

B. P 1,400,000 d. P 4,400,000

Assuming the donor is a resident alien, what is the amount of the donation inter-vivos?

A. P 1,000,000 c. P 4,000,000

B. P 1,400,000 d. P 4,400,000

Assuming the donor is a non- resident citizen, what is the amount of the donation inter-vivos?

A.P 1,000,000 c. P 4,000,000

B.P 1,400,000 d. P 4,400,000

Assuming the donor is a non-resident alien, what is the amount of the donation inter-vivos?

A. P 1,000,000 c. P 4,000,000

B. P 1,400,000 d. P 4,400,000

Assuming the donor is a non-resident alien with a reciprocity exemption, what is the amount of the donation inter-vivos?

A. P 1,000,000 c. P 4,000,000

B. P 1,400,000 d. P 4,400,000

Mr. CHucho decedent died leaving the following properties:

Philippines Abroad

A. Investment in sticks P 500,000 P -

B. House and Lot - 4,000,000

C. Residential lot 3,000,000 -

Assuming Mr. Chucho is a non-resident alien, what is the amount of donation mortis causa?

A. P 0 c. P 3,500,000

B. P 3,000,000 d. P 7,500,000

Assuming Mr. Chucho is a non-resident citizen or resident alien and reciprocity rule applies, what is the amount of donation mortis causa?

A. P 0 c. P 3,500,000

B. P 3,000,000 d. P 7,500,000

A seller of goods made the following sales:

Fair market value P 5,500,000

Selling price 4,500,000

Cost 2,500,000

What is the amount subject to the income tax?

A. P 0 c. P 1,500,000

B. P 1,00,000 d. P 2,000,000

In the immediately preceding problem, what is the amount subject to transfer tax?

A. P 0 c. P 1,500,000

B. P 1,00,000 d. P 2,000,000

Avalon sold car, Data relating to the sale and the car are as follows:

Fair market value P 4,000,000

Selling price 5,000,000

Cost 2,500,000

What is the amount subject to income tax and to transfer tax respectively?

A. P 0; P 0 c. P 1,500,000; P 1,000,000

B. P 1,500,000; P 0 d. P 0; P 2,500,000

Mr. Peter made a revocable transfer of his stock investment on July 4, 2020 in favor of his brother, Merto. Peter died on December 15 2020.

The stocks had the following fair values:

July 4, 2020 P 1,200,000

August 20,2020 1,100,000

December 15,2020 1,600,000

Assuming Peter waived the right to revoke on August 20, 2020, what is the amounts subject to transfer tax and the type of transfer tax to apply?

A. P 1,200,000; donor's tax

B. P 1,1000,00; donor's tax

C. P 1,600,000; donor's tax

D. P 1,600,000; estate tax

Assuming Mr. Peter did not revoke the property until the date of his death, what is the amounts subject to transfer tax and type of transfer tax to apply?

A. P 1,200,000; donor's tax

B. P 1,1000,00; donor's tax

C. P 1,600,000; donor's tax

D. P 1,600,000; estate tax

In October 2020, Mrs. Blender transferred a property to her younger sister, Careen, subject to the condition that careen must graduate in March 2021.

The property was worth P 800,000 in October 2020 and P 900,000 in March 2021. Mrs. blender died on July 15,2021 when the property was worth P 1,200,000.

Assuming that Careen failed to graduate in March 2021, what is the amount of donation and the transfer tax to apply?

A. P 800,000; donor's tax

B. P 900,000; donor's tax

C. P 1,200,000; donor's tax

D. None; None

During his birthday, Mr. Fu Chen donated the following properties:

Cash donation to his wife P 500,000

Oral donation of hose and lot 3,00,0000

Compute the taxable amount of donation inter-vivos?

A. P 0 c. P 3,000,000

B. P 500,000 d. P 3,500,000

A resident alien conveyed the following properties on the following terms:

Consideration Fair value

Car P 0 P 500,000

Motorcycle 300,000 300,000

Laptop 20,000 80,000

Compute the total amount subject to transfer made by seller:

A. P 880,000 c. P 500,000

B. P 560,000 d. P 60,000

The following relates to a transfer made by seller

Selling price P 1,500,000

Fair value of property at date of sale 4,000,000

Fair value at death of the seller 5,000,000

Assuming that title to the property is transferred on the date of sale, what is the amount of donation and the type of transfer tax to apply?

A. P 0; None c. P 2,500,000; donors' tax

B. P 1,00,000; estate tax d. P3,500,000; donors' tax

Assuming that title to the property was agreed upon to take effect on the date of death, what is the amount of donation and the type of transfer tax to apply?

A. P 0; none c. P 2,500,000; donor's tax

B. P 1,000,000; estate tax d. 3,500,000; donor's tax

The following relate to the disposition of property made by seller:

Selling price P 4,200,000

Fair value of property on date of sale 4,000,000

Fair value at death of the seller 5,000,000

What is the amount subject to donor's tax?

A. P 0 c. P 800, 000

B. P 200,000 d. P 4,000,000

Assuming that the transfer s revocable until the death of the decedent-seller, what is the amount subject to estate tax?

A. P 0 c. P 800, 000

B. P 200,000 d. P 4,000,000