Question: Problem 3 In each oi the lollowing, determine the allowable deduction from the Gross gift: ?. Dowry by a mother to her daughter: During marriage

 Problem 3 In each oi the lollowing, determine the allowable deduction

Problem 3 In each oi the lollowing, determine the allowable deduction from the Gross gift: ?. Dowry by a mother to her daughter: During marriage P 5,000 15 months after the marriage 50.000 8. Donation to Philippine National Red Cross, P100,000 but 50% was spent for oflice expenses alone. 9. Donation to Manila City Hall, P300000 but 50% was spent for otlice expenses. 10. Land donated with FMV of P2M with unpaid real estate tax of P400,000, 1/4 assumed by the done, and unpaid mortgage of P1M, all assumed by the donor. 11. Donation mortis causa of a land with FMV of P1M left by the decedent and given inter yivos car worth P250000 pledged for P100000. 30% assumed by the done. 12. Donation intervivos to son account of topping the CPA exam. Land with FMV, P500,000 subject to the condition that the son will pay the donor's tax on the said donation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Law Questions!