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Mr. Xasa. Filipino, marted last November 20, 2010, cied on Nov. 21, 2015, leaving the following assets and expenses: ASSETS Azucarera. Iorlac House and Lot, San Juan, Metro Mania (tamily home) 2-Door Apartment In Quezon City, donated by his parents in 2008 Investment in a Domestic Partnership Personal Property Cash in Bank 1.800.000 1.350,000 700,000 400.000 160,000 200.000 EXPENSES Funeral expenses Unpald mortgage on Azucarera Unpald mortgage on Apartment Medical expenses 130.000 140,000 100.000 75.000 Required: Determine the net taxable estate and estate tax.

Mr. Xasa. Filipino, marted last November 20, 2010, cied on Nov. 21, 2015, leaving the following assets and expenses: ASSETS Azucarera. Iorlac House and Lot, San Juan, Metro Mania (tamily home) 2-Door Apartment In Quezon City, donated by his parents in 2008 Investment in a Domestic Partnership Personal Property Cash in Bank 1.800.000 1.350,000 700,000 400.000 160,000 200.000 EXPENSES Funeral expenses Unpald mortgage on Azucarera Unpald mortgage on Apartment Medical expenses 130.000 140,000 100.000 75.000 Required: Determine the net taxable estate and estate tax.

SWFT Individual Income Taxes
SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 49P
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Subject: Transfer and business taxation

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Mr. Yosa, Fililpino, marted last November 20, 2010, died on Nov. 21, 2015, leaving the following assets and expenses: ASSETS 1.800.000 1,350,000 Azucarera. Tarlac House and Lot, San Juan, Metro Manila (family home) 2-Door Apartment in Quezon City, donated by his parents in 2008 Investment in a Domestic Partnership 700,000 400.000 Personal Property Cash in Bank 160,000 200.000 EXPENSES Funeral expenses Unpaid mortgage on Azucarera Unpaid mortgage on Apartment Medical expenses 130,000 140,000 100.000 75,000 Required: Determine the net taxable estate and estate tax.
Transcribed Image Text:Mr. Yosa, Fililpino, marted last November 20, 2010, died on Nov. 21, 2015, leaving the following assets and expenses: ASSETS 1.800.000 1,350,000 Azucarera. Tarlac House and Lot, San Juan, Metro Manila (family home) 2-Door Apartment in Quezon City, donated by his parents in 2008 Investment in a Domestic Partnership 700,000 400.000 Personal Property Cash in Bank 160,000 200.000 EXPENSES Funeral expenses Unpaid mortgage on Azucarera Unpaid mortgage on Apartment Medical expenses 130,000 140,000 100.000 75,000 Required: Determine the net taxable estate and estate tax.
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