Mr. Fabic a Filipino died in Canada leaving the following: Cost Property Bank deposit Location Abroad P1,000,000 650,000 Philippines Car Family home Philippines 2,800,000 Expenses: Funeral Judicial 135,000 45,000 FMV at Death P 1,000,000 160,000 2,350,000 Medical 600,000 Required: Compute the total allowable deductions from the gross estate.

Mr. Fabic a Filipino died in Canada leaving the following: Cost Property Bank deposit Location Abroad P1,000,000 650,000 Philippines Car Family home Philippines 2,800,000 Expenses: Funeral Judicial 135,000 45,000 FMV at Death P 1,000,000 160,000 2,350,000 Medical 600,000 Required: Compute the total allowable deductions from the gross estate.

Administration Of Wills/Trusts/ And Estates

5th Edition

ISBN:9781285281308

Author:Brown

Publisher:Brown

Chapter6: Structure Of A Model Will

Section: Chapter Questions

Problem 4SYPS

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A donor gave the following donations during 2021: March 5 – Land located in the Philippines valued at P3,000,000.00 to her uncle subject to the condition that the latter will pay the donor’s tax due and unpaid mortgage amounting to P500,000.00. May 1 – Land located in Makati City valued at P1,950,000 to her daughter, on account of marriage December 30 – Building in Australia valued at P3,500,000.00 to her Donor’s tax paid in Australia was P250,000.00. Questions: Compute the donor's tax payable on the March 5 donation.
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