Question
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.
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
Step 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
Audit Of The Management Of Federal Prison Industries And Efforts To Create Work Opportunities For Federal Inmates
Authors: U.S. Department Of Justice
1st Edition
1500770442, 978-1500770440
