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?

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
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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