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ANSWER WHAT IS REQUIRED. THANK YOU 2. Deductions. Wilson died in a car accident. He died intestate on October 10, 2019. Exclusive properties of the
ANSWER WHAT IS REQUIRED. THANK YOU
2. Deductions. Wilson died in a car accident. He died intestate on October 10, 2019. Exclusive properties of the wife - P 1,400,000 Car 2,000,000 Condo unit in Pasig City 800,000 Other real and personal properties Conjugal properties - 500,000 Cash on hand and in bank 50,000 Receivable as prize in a raffle contest sponsored by PICPA Receivable from an insurance company where his son, Gino was 500,000 designated in the policy as the revocable beneficiary 4,900,000 4,000,000 House and lot in Sta. Rosa, Laguna, used as family home 1,500,000 Interest in a partnership Other real properties The following deductions were claimed: Loan from financing institution Unpaid mortgage on condominium unit Unpaid mortgage on house and lot in Sta. Rosa, Laguna Accrued income taxes Unpaid realty taxes on condo unit Unpaid realty taxes on house and lot Income tax on income earned from October 11 to December 31 of the same year 50,000 200,000 350,000 35,000 1,800 3,000 7,500 REQUIRED: Compute the estate tax due. CityStep by Step Solution
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