X died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000)...

 

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X died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000) b. Condominium unit in Hongkong c. Car in Philippines d. Car in Hongkong e. Franchise exercised in the Philippines f. Franchise exercised in New York, USA g. Domestic shares, certificate kept in New York, USA h. Foreign shares, 90% of business in the Philippines What is the gross estate if the decedent was a non-resident alien (without reciprocity)? X died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000) b. Condominium unit in Hongkong 1,250,000 1,000,000 i. Foreign shares, 30% of business in the Philippines, with business situs in the Philippines. Foreign shares, 60% of business in the Philippines What is the gross estate if the decedent was a non-resident alien (with reciprocity)? c. Car in Philippines d. Car in Hongkong e. Franchise exercised in the Philippines f. Franchise exercised in New York, USA 70,000 60,000 300,000 25,000 55,000 60,000 75,000 15,000 1,250,000 1,000,000 70,000 60,000 300,000 25,000 55,000 60,000 15,000 75,000 g. Domestic shares, certificate kept in New York, USA h. Foreign shares, 90% of husiness in the Philippines i. Foreign shares, 30% of hsiness in the Philippines, with business situs in the Philippines. Foreign shares, 60% of business in the Philippines What is the gross estate if the decedent was a non-resident alien (without reciprocity)? X died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000) b. Condominium unit in Hongkong c. Car in Philippines d. Car in Hongkong e. Franchise exercised in the Philippines f. Franchise exercised in New York, USA g. Domestic shares, certificate kept in New York, USA h. Foreign shares, 90% of business in the Philippines What is the gross estate if the decedent was a non-resident alien (without reciprocity)? X died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000) b. Condominium unit in Hongkong 1,250,000 1,000,000 i. Foreign shares, 30% of business in the Philippines, with business situs in the Philippines. Foreign shares, 60% of business in the Philippines What is the gross estate if the decedent was a non-resident alien (with reciprocity)? c. Car in Philippines d. Car in Hongkong e. Franchise exercised in the Philippines f. Franchise exercised in New York, USA 70,000 60,000 300,000 25,000 55,000 60,000 75,000 15,000 1,250,000 1,000,000 70,000 60,000 300,000 25,000 55,000 60,000 15,000 75,000 g. Domestic shares, certificate kept in New York, USA h. Foreign shares, 90% of husiness in the Philippines i. Foreign shares, 30% of hsiness in the Philippines, with business situs in the Philippines. Foreign shares, 60% of business in the Philippines What is the gross estate if the decedent was a non-resident alien (without reciprocity)?

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To calculate the gross estate of a nonresident alien with reciprocity we need to include the fair ma... View the full answer