Question: Please show your solution and explanation if needed. Thank youuu! Subject: Estate Taxation X died leaving the following properties: a. House and lot in the

Please show your solution and explanation if needed. Thank youuu! Subject: Estate Taxation
X died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000) 1,250,000 b. Condominium unit in Hongkong 1,000,000 C. Car in Philippines 70,000 d. Car in Hongkong 60,000 e. Franchise exercised in the Philippines 300,000 f. Franchise exercised in New York, USA 25,000 & Domestic shares, certificate kept in New York, USA 55,000 h. Foreign shares, 90% of business in the Philippines 60,000 i. Foreign shares, 30% of business in the Philippines, with business situs in the Philippines. 15,000 Foreign shares, 60% of business in the Philippines 75,000 What is the gross estate if the decedent was a non-resident alien (with reciprocity)? What is the gross estate if the decedent was a non-resident alien (without reciprocity)? K died leaving the following properties: a. House and lot in the Philippines (mortgaged for P300,000) 1,250,000 b. Condominium unit in Hongkong 1,000,000 C. Car in Philippines 70,000 d. Car in Hongkong 60,000 e. Franchise exercised in the Philippines 300,000 f. Franchise exercised in New York, USA 25,000 8. Domestic shares, certificate kept in New York, USA 55,000 h. Foreign shares, 90% of husiness in the Philippines 60,000 i. Foreign shares, 30% of husiness in the Philippines, with business situs in the Philippines. 15,000 Foreign shares, 60% of business in the Philippines 75,000 What is the gross estate if the decedent was a non-resident alien (without reciprocity)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
