The following data were taken from the records of a citizen decedent: Land inherited from his mother two years before death, during marriage, with a value of P15,000,000 when inherited. P24,000,000 Other personal property owned before marriage 16,000,000 Other personal property acquired during marriage 5,000,000 Claims against the estate 2,000,000 Medical expenses 5,000,000 Losses 1,000,000 How much is the estate tax due?
The following data were taken from the records of a citizen decedent: Land inherited from his mother two years before death, during marriage, with a value of P15,000,000 when inherited. P24,000,000 Other personal property owned before marriage 16,000,000 Other personal property acquired during marriage 5,000,000 Claims against the estate 2,000,000 Medical expenses 5,000,000 Losses 1,000,000 How much is the estate tax due?
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 8DQ
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The following data were taken from the records of a citizen decedent:
Land inherited from his mother two years before death, during marriage, with a value of P15,000,000 when inherited. |
P24,000,000 |
Other personal property owned before marriage |
16,000,000 |
Other personal property acquired during marriage |
5,000,000 |
Claims against the estate |
2,000,000 |
Medical expenses |
5,000,000 |
Losses |
1,000,000 |
How much is the estate tax due?
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