Two different trusts have the same grantor and beneficiary. The income tax due of the first trust is P35,000 before consolidation. Both trusts have already paid the income tax due on their separate taxable income. Consolidation of the two trusts resulted to a total income tax due of P184,000. How much is the income tax still due for the second trust?

Two different trusts have the same grantor and beneficiary. The income tax due of the first trust is P35,000 before consolidation. Both trusts have already paid the income tax due on their separate taxable income. Consolidation of the two trusts resulted to a total income tax due of P184,000. How much is the income tax still due for the second trust?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxation Of Trusts And Estates

Section: Chapter Questions

Problem 15CE

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