2. The gift tax payable of Mr. Alba on the July 14 donation is Mr. and Mrs. Alba gave the following donations: 05/03/19 Community property valued at P400,000 donated to Barbado, legitimate son who got married January 1, 2018.

SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter19: Family Tax Planning
Section: Chapter Questions
Problem 26P
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2. The gift tax payable of
Mr. Alba on the July 14
donation is
Mr. and Mrs. Alba gave the following donations:
05/03/19 Community property valued at P400,000 donated to Barbado, legitimate son who got
married January 1, 2018.
07/14/19 Exclusive property of Mr Alba was donated to Carla, legitimate daughter who got married
June 1, 2018. Value- P500,000.
12/30/19
Community property donated to Carla. The dowry has a market value of P800,000
08/05/20 Community property donated to Dianne, P700,000 with an unpaid mortgage of P150,000
assumed by the donee.
Exclusive property of Mr. Alba was donated to ABC Corporation, cash of P200,000.
O 21,800
O 27,000
O 30,000
O 6400
Transcribed Image Text:2. The gift tax payable of Mr. Alba on the July 14 donation is Mr. and Mrs. Alba gave the following donations: 05/03/19 Community property valued at P400,000 donated to Barbado, legitimate son who got married January 1, 2018. 07/14/19 Exclusive property of Mr Alba was donated to Carla, legitimate daughter who got married June 1, 2018. Value- P500,000. 12/30/19 Community property donated to Carla. The dowry has a market value of P800,000 08/05/20 Community property donated to Dianne, P700,000 with an unpaid mortgage of P150,000 assumed by the donee. Exclusive property of Mr. Alba was donated to ABC Corporation, cash of P200,000. O 21,800 O 27,000 O 30,000 O 6400
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