Zofi died on February 1, 2021 leaving a 1,000 sq.m. parcel of land in BGC, Taguig, with the following valuations: Fair Market Value as determined by the City Assessor 25,000/sq.m. Zonal Value as determined by the BIR, P18,000,000 Fair Market Value by independent appraisers, P30,000,000 What is the value of the piece of land in the gross estate?
Zofi died on February 1, 2021 leaving a 1,000 sq.m. parcel of land in BGC, Taguig, with the following valuations: Fair Market Value as determined by the City Assessor 25,000/sq.m. Zonal Value as determined by the BIR, P18,000,000 Fair Market Value by independent appraisers, P30,000,000 What is the value of the piece of land in the gross estate?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter7: Property Transactions: Basis, Gain And Loss, And Nontaxable Exchanges
Section: Chapter Questions
Problem 17P
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Zofi died on February 1, 2021 leaving a 1,000 sq.m. parcel of land in BGC, Taguig, with the following valuations:
Fair Market Value as determined by the City Assessor 25,000/sq.m.
Zonal Value as determined by the BIR, P18,000,000
Fair Market Value by independent appraisers, P30,000,000
What is the value of the piece of land in the gross estate?
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