How much is the gross estate if the property relationship is conjugal partnership of gains is

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter17: Property Transactions: § 1231 And Recapture Provisions
Section: Chapter Questions
Problem 46P
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The gross estate of the decedent includes the following properties

                           Car acquired before marriage by Arthur                                                                                        P300,000

                           Car acquired before marriage by wife                                                                                               450,000

                           House and lot acquired during marriage                                                                                       1,500,000

                           Jewelries of wife                                                                                                                                        100,000

                           Personal properties inherited by Arthur during marriage                                                          250,000

                           Benefits from SSS                                                                                                                                         50,000

                           Retirement benefits                                                                                                                                  150,000

                           Proceeds of group insurance taken by his employer                                                                      75,000

                           Land inherited by the wife during marriage                                                                                 1,000,000

Income earned from the land inherited by wife (25% of which was earned

200,000 after death)

 

  1. How much is the gross estate if the property relationship is conjugal partnership of gains is:
    1. P2,600,000                                                               P1,950,000
    2. P3,600,000                                                               P2,200,000

 

  1. Based on the preceding number, the gross estate if the property relationship is absolute community of property is:
    1. P2,600,000                                                               P1,950,000
    2. P3,600,000                                                               P2,500,000
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