The donor's tax due, including increments
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 30P
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Answer with explanation.
1. On March 6, 2022, a Filipino citizen donated house and lot with fair market value of
P500,000 to his illegitimate child on account of marriage on January 1, 2022.
return was filed and tax paid on July 5, 2022. (Assume a 10% legal interest rate for loans).
The donor's tax due, including increments, as of July 5, 2022 is:
a. P15,000
b. P15,750
c. P19,500
d. P23,250
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