Ir. Segundo Primero died. H nildren, Pedro and Juan. Th roperty in favor of their two onor's tax?
Ir. Segundo Primero died. H nildren, Pedro and Juan. Th roperty in favor of their two onor's tax?
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 1BCRQ
Related questions
Question
timed task. need help. thanks!
about transfer taxes.
![Mr. Segundo Primero died. His only heirs are his wife and their two (2}
children, Pedro and Juan. The wife renounced her share in common
property in favor of their two children. Was the renunciation subject
donor's tax?
Yes, because the renuncíation by the surviving spouse of hís/her share in
the conjugal partnership or absolute community after the dissolution of the
marriage was done in favor of specified heirs.
Yes, because what was renounced is her share in the conjugal partnershíp or
absolute community after the dissolution of the marriage in favor of the
heirs of the deceased spouse or any other person/s.
No, because, as a rule, the surviving spouse cannot renounce her share in
the conjugal partnership or absolute community after the dissolution of the
marriage.
No, because the renunciation by the surviving spouse of his/her share in
the conjugal partnership or absolute community after the dissolution of the
marríage was not done in favor of a specified heir to the exclusion or
disadvantage of the other co-heirs.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F085b0584-eba2-4970-8fe1-1562ae5842e4%2F4a8c27c7-3fe7-43df-98d5-2bc506d0ed7c%2F1rpgnr_processed.png&w=3840&q=75)
Transcribed Image Text:Mr. Segundo Primero died. His only heirs are his wife and their two (2}
children, Pedro and Juan. The wife renounced her share in common
property in favor of their two children. Was the renunciation subject
donor's tax?
Yes, because the renuncíation by the surviving spouse of hís/her share in
the conjugal partnership or absolute community after the dissolution of the
marriage was done in favor of specified heirs.
Yes, because what was renounced is her share in the conjugal partnershíp or
absolute community after the dissolution of the marriage in favor of the
heirs of the deceased spouse or any other person/s.
No, because, as a rule, the surviving spouse cannot renounce her share in
the conjugal partnership or absolute community after the dissolution of the
marriage.
No, because the renunciation by the surviving spouse of his/her share in
the conjugal partnership or absolute community after the dissolution of the
marríage was not done in favor of a specified heir to the exclusion or
disadvantage of the other co-heirs.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT