Mr. Y, an American, single and residing in USA, died leaving the following:? ? (Item 17-18) Mr.

Mr. Y, an American, single and residing in USA, died leaving the following:?

?

Transcribed Image Text:

(Item 17-18) Mr. Y, an American, single and residing in USA, died leaving the following: Land in Makati Land in Manila Gross estate, USA Deductions claimed by the estate: Actual funeral expense Judicial expenses Claims against the estate Transfer of land in Makati to the Philippine government (in decedent's will) 20,000,000 30,000,000 50,000,000 2,000,000 1,000,000 1,200,000 20,000,000 The land in Manila when inherited 3 ½ years ago had a value of P2,400,000 with a mortgage thereon of P400,000 which was paid prior to Mr. Y's death. The land in Makati when inherited 4 ½ years ago has a value of P1,500,000. (Item 17-18) Mr. Y, an American, single and residing in USA, died leaving the following: Land in Makati Land in Manila Gross estate, USA Deductions claimed by the estate: Actual funeral expense Judicial expenses Claims against the estate Transfer of land in Makati to the Philippine government (in decedent's will) 20,000,000 30,000,000 50,000,000 2,000,000 1,000,000 1,200,000 20,000,000 The land in Manila when inherited 3 ½ years ago had a value of P2,400,000 with a mortgage thereon of P400,000 which was paid prior to Mr. Y's death. The land in Makati when inherited 4 ½ years ago has a value of P1,500,000.

Answer rating: 100% (QA)

For nonresidents noncitizens of the Philippines which is the case of Mr Y the net esta... View the full answer