Ms. Balo, spouse of the decedent who died in a bus accident, received P2, 500,000 broken down as follows: P900,000 From a life insurance taken out by the decedent designating his wife as revocable beneficiary P1,200,000 From an insurance company taken out by the decedent designating his wife as irrevocable beneficiary P400,000 From the owner of the bus involved in the accident where settlement was made outside court proceedings The gross estate of the decedent shall include
Ms. Balo, spouse of the decedent who died in a bus accident, received P2, 500,000 broken down as follows: P900,000 From a life insurance taken out by the decedent designating his wife as revocable beneficiary P1,200,000 From an insurance company taken out by the decedent designating his wife as irrevocable beneficiary P400,000 From the owner of the bus involved in the accident where settlement was made outside court proceedings The gross estate of the decedent shall include
Chapter15: Property Transactions: Nontaxable Exchanges
Section: Chapter Questions
Problem 22CE
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Ms. Balo, spouse of the decedent who died in a bus accident, received P2, 500,000 broken down as follows:
|
P900,000 |
From a life insurance taken out by the decedent designating his wife as revocable beneficiary |
|
P1,200,000 |
From an insurance company taken out by the decedent designating his wife as irrevocable beneficiary |
|
P400,000 |
From the owner of the bus involved in the accident where settlement was made outside court proceedings |
The gross estate of the decedent shall include
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