5. A resident citizen died, leaving the following properties at the point of his death: Fair Value Acquisition Cost House and Lot P 4,000,000 P 2,000,000 Car 800,000 1,200,000 Agricultural Land. 2,100,000 500,000 What is the amount of the donation mortis causa? a. P 0 b. P3,700,000 c. P6,900,000 d. P7,300,000
5. A resident citizen died, leaving the following properties at the point of his death: Fair Value Acquisition Cost House and Lot P 4,000,000 P 2,000,000 Car 800,000 1,200,000 Agricultural Land. 2,100,000 500,000 What is the amount of the donation mortis causa? a. P 0 b. P3,700,000 c. P6,900,000 d. P7,300,000
Chapter17: Property Transactions: § 1231 And Recapture Provisions
Section: Chapter Questions
Problem 3BCRQ
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5. A resident citizen died, leaving the following properties at the point of his death:
Fair Value Acquisition Cost
House and Lot P 4,000,000 P 2,000,000
Car 800,000 1,200,000
Agricultural Land. 2,100,000 500,000
What is the amount of the donation mortis causa?
a. P 0 b. P3,700,000 c. P6,900,000 d. P7,300,000
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