Determine the net taxable estate assuming Determine the net taxable estate assuming conjugal partnership of gains...
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Determine the net taxable estate assuming Determine the net taxable estate assuming conjugal partnership of gains absolute community of property. Determine the estate tax due and payable Determine the net estate subject to estate tax. Mr. O, Filipino, married, died on Dec. 31, 2010, three years after his marriage to Mrs. O. He left the following: a. Property inherited by Mr. O from his father who died February 14, 2006 P 3,000,000 b. by Mrs. O from her father who died February 14, 2005 1,200,000 Property inherited inherited C. Property by Mr. O from his mother who died February 14, 2008 1,800,000 d. Property inherited by Mrs. O from her mother who died February 14, 2009 1,400,000 e. Property acquired thru the labor of Mr. O 2,000,000 Mrs. O 1,500,000 Mr. & Mrs. O (family home) 2,400,000 f. Other personal property 1,600,000 Deductions claimed by the estate : a. Funeral expense 220,000 b. Unpaid mortgages on property in letters: UD a. b. C. d. 500,000 300,000 180,000 200,000 C. Claims against the estate 170,000 d. Accrued taxes (before the death of Mr. O) 80,000 Determine the net taxable estate assuming Determine the net taxable estate assuming conjugal partnership of gains absolute community of property. Determine the estate tax due and payable Determine the net estate subject to estate tax. Mr. O, Filipino, married, died on Dec. 31, 2010, three years after his marriage to Mrs. O. He left the following: a. Property inherited by Mr. O from his father who died February 14, 2006 P 3,000,000 b. by Mrs. O from her father who died February 14, 2005 1,200,000 Property inherited inherited C. Property by Mr. O from his mother who died February 14, 2008 1,800,000 d. Property inherited by Mrs. O from her mother who died February 14, 2009 1,400,000 e. Property acquired thru the labor of Mr. O 2,000,000 Mrs. O 1,500,000 Mr. & Mrs. O (family home) 2,400,000 f. Other personal property 1,600,000 Deductions claimed by the estate : a. Funeral expense 220,000 b. Unpaid mortgages on property in letters: UD a. b. C. d. 500,000 300,000 180,000 200,000 C. Claims against the estate 170,000 d. Accrued taxes (before the death of Mr. O) 80,000
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1 Conjugal partnership of gains Properties in a c e f are exclusive to the decea... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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