What is Ms. Eun’s reportable gross estate?

Q: 1. Bonifacio, head of the family died on January 15 leaving the following properties and…

A: Net taxable estate means how much total estate consisting of properties and assets is taxable in…

Q: Lucas, a single U.S. citizen, works in Denmark for MNC Corp during all of 2019. His MNC salary is…

A: Answer: Any US citizen who is earning money even from foreign source is taxable in the gross income…

Q: Compute for the conjugal property, and for Concepcion’s exclusive properties.

A: Conjugal property is the value of the property which has been acquired or purchased by the partners…

Q: Under conjugal partnership of gains, gross conjugal property is_

A: Firstly, let us understand what are conjugal properties. Conjugal means related to marriage.…

Q: ella, a non-VAT taxpayer sold to Millie, a VAT taxpayer, his goods for P 50,000. The next day,…

A: Note: The Q Currency is Php hence, we are assuming the Q is from Phillipins. In Philippines VAT…

Q: Helen is a U.S. citizen and a CPA who moved to London, England, three years ago to work for a…

A: Foreign earned income exclusion is $108,700 for 2021. As the which year has to be taken is not…

Q: Manny, a resident citizen, made the following donations in 2021: To Mercy, a land worth P450,000 in…

A: The answer is stated below:

Q: Nicanor, head of the family, died in 2020. The list of his properties is given below: House and lot…

A: A deceased person's property will be taken over by his lawful heirs or beneficiaries. A tax is…

Q: Mr Jose Peralta, a Filipino merchant residing in Greenhils, made the following gifts in 2021 and…

A: Mr Jose Peralta, a Filipino merchant residing in Greenhils has given a few gifts during the year…

Q: Josh contributes $5,000 toward the support of his widowed mother, aged 69, a U.S. citizen and…

A: Expenses: Expenses refer to the term which is incurred through the business during its course of…

Q: Enrique Requiestas, resident citizen, widower, with a dependent minor brother, had the following…

A: The answer is stated below:

Q: Nicanor, a resident citizen residing in Sampaloc, Manila, deposited $2,000 in BPI, Morayta Branch, a…

A: Tax in the Philippines is governed by Section 28 of The Constitution of the Philippines and three…

Q: On December 25, 1985, Peter and Andrea De Guzman were married. On June 12, 2020 Andrea died. On…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Q: Sandra, a non-VAT taxpayer sold to Kyle, a VAT taxpayer, his goods for P50,000. The next day, Kyle…

A: $1 = Php 45 Cost paid by PCSI = P123,200 Received by PCSI = $70

Q: Juancho died leaving a hologram will. In the last will, he identified his wife, all his 3 legitimate…

A: Ans. P 12,00,000 Solution: Total distributable estate of Juancho= P 24,000,000 Wife inheritance as…

Q: Nicanor is a married man with surviving spouse: Community Properties Real Property located in Manila…

A: Net Estate Computation:   Communal (P) Exclusive (P) Total (P) Real property 5,000,000…

Q: Carlos, a non-resident citizen, died abroad intestate (without a last will and testament) during the…

A: The correct answer for the above question is given in the following steps for your reference.

Q: Helen is U.S. citizen and a CPA  who moved to London, England, three years ago to work for a British…

A: Exclusion of foreign income earned: The conditions must be one of the following to be qualified to…

Q: Nancy, a non-VAT taxpayer sold to Kyle, a VAT taxpayer, his goods for P50,000. The next day, Kyle…

A: ANSWER(1): Calculation of Value-added tax payable of Bimbie Note: The Q Currency is Php hence we are…

Q: Jinn and Liin  are married and live in a common law state. They want to make gifts to their four…

A: Solution Jinn and Liin  are married and live in a common law state. They want to make gifts to their…

Q: Harmony, a citizen and resident of the Philippines, married, died, leaving the following properties:…

A: Correct option is p450,000.

Q: Pedro Penduco, decedent, died leaving the following properties and rights: Cash on hand and in…

A: Grosss Estate for Mr. Penducon Find the below table for the solution, I have added the reason for…

Q: A nonresident alien, married, died on September 2018. He left the following: Conjugal properties,…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 2. Jerson, married, 15 dependents, had the following income within and outside the Philippines:…

A: The Philippines taxes its resident citizens on their income from worldwide whereas the non- resident…

Q: Juana, a Filipina died in Ukraine left the following properties House and lot in Ukraine 1,500,000…

A: The correct answer is given in the following steps for your reference

Q: Accounting In January 2020, Mrs. Cristiflor Buduhan, a widow and a Filipino citizen, executed a last…

A: Will is about your wishes to distribute your property in the event of your death.

Q: st he joined 100,000 Prize received for achievement in literature (did not join the contest) 10,000…

A: The total final tax is given as,

Q: Juliet, a Filipina made the following donations: To Nick Land in Manila 450,000 To Rosalee…

A: Taxable Income:- Taxable income is defined as the part of a person’s or corporation’s income that is…

Q: Jack Jones, an American residing in New Jersey, USA, single, died on October 1, 2020. His executor…

A: Promissory note from Jose Juan, a resident of Pampanga shall not be included in gross estate…

Q: Alisha, a resident citizen residing in Singapore during his lifetime, left the following properties:…

A: Includes immovable , movable ,personal,scrips,etc. but does not includes any debt.

Q: he executor of Niel, a Filipino citizen based in Canada, provided details of his properties in…

A: Answer: Niel is citizen of Philippines He has income from both Philippines and Canada Philippines…

Q: Aman (46) and Katy (46) are married and want to file together. Their sons, Jason (18) and Julie…

A: Answer: As per Q/A guidelines, only first three subparts are to be solved. Please repost rest…

Q: Compute for the following: 1. Compute for the Gross estate 2. The net estate 3. The estate tax…

A: The gross estate is the total amount of assets held by the deceased person at the time of his or her…

Q: Nicanor is a married man with surviving spouse: Community Properties: Real Property located in…

A: Calculation of estate tax Particulars Amount (PHP) Community property   Real property…

Q: Inday is settling the estate of his Filipino husband Nicanor, who died intestate in the Netherlands…

A: It is charged on transmission of property by resident and non-resident decedents. It is based on…

Q: Don Sebastian, single but head of the family, Filipino, and resident of Pasig City, died intestate…

A: : All the properties and interest enumerated in the problem should be included in the gross estate…

Q: While he was traveling with friends, Mr. Juan, resident Filipino citizen, died on January20, 2021 in…

A: At the event of the death of a Filipino citizen, his gross estate will have to be estimated for the…

Q: A, Canadian and living in USA, died in 2020 with following properties: Condominium in USA of 2M…

A: Taxes are to be paid to the federal government for the property owned by an individual in a…

Q: Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $15,500 in 2020 for…

A: Income tax:   Income tax is the tax that an individual is responsible for on their earned income. It…

Q: The following data were taken from the records of a citizen decedent: Land inherited from his…

A: Estate Tax: When an individual transfers his/her property to the beneficiary person on his/her…

Q: ocial Security numbers. Paul earned $18,000 in wages. Maggie earned $20,000 in wages. In order to…

A: The Child and Dependent Care Credit will be phased away in 2021. Because this is a refundable tax…

Q: Mr. Guy a citizen of Tokyo, single, died leaving a gross estate of 15,000,000 in the Philippines and…

A: The deductions from the Philippines gross estate will be the standard deduction and the amount spent…

Q: Ricardo  was married at the time of death and was survived by his wife and their five legitimate…

A: Distributable Estate Tax The calculation of the net distributable estate tax is to procedure for the…

Q: A nonresident alien, married, died on September 2018. He left the following: Conjugal properties,…

A: Introduction : A nonresident alien, married, died on September 2018. He left some properties in…

Q: Nicanor, a resident Filipino citizen, married 10 years ago and is survived by wife Inday, son JR and…

A: Real property is the property of the person which is non-moveable and which is attach with the…

Q: Ms. Barion, a non-resident alien from a country with reciprocity clause, died due heart attack…

A: When there is reciprocity, the transmission of intangibles located in the Phil. of a non-resident…

Q: The executor of Niel, a Filipino citizen based in Canada, provided details of his properties in…

A: Estate tax in Philippines is a tax imposed on the event of demise of the owner of the property or…

Q: Nicanor, head of the family, died in 2020. The list of his properties is given below: House and lot…

A: Estate Tax: The executor or administrator impose estate tax  to heir or beneficiary before the…

Q: Mr. Nicanor was single at the time of death. Data were as follows: Country A: Net estate of P…

A: Estate Tax Credit While calculating the estate tax credit for the foreign estate tax paid first to…

Q: EEE, Filipino, residing in Toronto, made the following donations during the calendar year 2020:…

A: Answer:-  Donation tax definition:- Donation can be defined as something that is given to charity to…