Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PHILIPPINE TAXATION 2020 (TRAIN LAW) The following pertains to the estate of a citizen decedent: Separate properties of the decedent P12,400,000 Common properties of the

PHILIPPINE TAXATION 2020 (TRAIN LAW)

The following pertains to the estate of a citizen decedent:

Separate properties of the decedent P12,400,000

Common properties of the spouses P15,600,000.

Possible deduction are as follows:

Funeral expenses P480,000

Judicial Expenses P220,000

Obligations (1/4 is separate property) P1,800,000

Family home (common property) P15,000,000.

How much is the estate tax?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

3rd Edition

ISBN: 9780078025525, 9780077517359, 77517350, 978-0077398194

More Books

Students also viewed these Accounting questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago