If the decedent is a Filipino citizen, his gross estate is: Based on the preceding number,...
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If the decedent is a Filipino citizen, his gross estate is: Based on the preceding number, the deductible family home is: If the decedent is a non-resident alien and his country does not impose transfer tax on any intangible properties left by a Filipino decedent, his gross estate is: If gross estate of a non-resident alien is 2,000,000, the standard deduction would be: Building, USA House & Lot in Bulacan (500 sq.m.) zonal value is 10,000 per sq.m. (conjugal family home) Life insurance proceeds, beneficiary is the wife, the administrator, irrevocable Life insurance proceeds with another company; beneficiary, his son, irrevocable Claims against a debtor who died a year ago (50% collectible) Death benefits from from US veteran administration Death benefits from SSS Paraphernal property of his surviving wife He also transferred mortis cause the following: SP Car, Manila Land, Manila Land, USA 500,000 1,500,000 2,000,000 FMV-Transfer 1,000,000 2,000,000 1,800,000 5,000,000 4,500,000 500,000 200,000 50,000 100,000 40,000 2,000,000 FMV-Death 800,000 1,000,000 3,000,000 If the decedent is a Filipino citizen, his gross estate is: Based on the preceding number, the deductible family home is: If the decedent is a non-resident alien and his country does not impose transfer tax on any intangible properties left by a Filipino decedent, his gross estate is: If gross estate of a non-resident alien is 2,000,000, the standard deduction would be: Building, USA House & Lot in Bulacan (500 sq.m.) zonal value is 10,000 per sq.m. (conjugal family home) Life insurance proceeds, beneficiary is the wife, the administrator, irrevocable Life insurance proceeds with another company; beneficiary, his son, irrevocable Claims against a debtor who died a year ago (50% collectible) Death benefits from from US veteran administration Death benefits from SSS Paraphernal property of his surviving wife He also transferred mortis cause the following: SP Car, Manila Land, Manila Land, USA 500,000 1,500,000 2,000,000 FMV-Transfer 1,000,000 2,000,000 1,800,000 5,000,000 4,500,000 500,000 200,000 50,000 100,000 40,000 2,000,000 FMV-Death 800,000 1,000,000 3,000,000
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Answer To calculate the gross estate and deductible family home for a Filipino citizen we need to co... 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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