Mr A and Mrs A, married couple and residents of Philippines had the following data in 2018: a A red car in the name of Mr A acquired before marriage; BV is 1M; FV is 1,800,000 b A jewelry owned by Mrs. A before Marriage; Cost 600,000/ FV is 900,000 c Home Appliances at home; current value is 500,000 d Bank account acquired during marriage-joint account w/ Mr X (50%)-400,000 e Land of 1.3M acquired by Mr. A thru gift during marriage (where the Family House was built) f Apartment inherited by Mr. A from his parents= 6,000,000 during marriage g Fruits (rental income) from letter (f) / Apartment of 200,000 h Land inherited by Mrs. A from his parents= 2,000,000 before marriage i Family House of 5.2M was built out of Mrs A's income earned during marriage Ordinary deductions- exclusive is 1,300,000 while ordinary deductions- conjugal totaled 2,800,000. What is the taxable net estate of Mr A under CPOG? a. 250,000 b. 550,000 c. 850,000 d. 800,000 e. 1,250,000 f. None of the above
Mr A and Mrs A, married couple and residents of Philippines had the following data in 2018:
a A red car in the name of Mr A acquired before marriage; BV is 1M; FV is 1,800,000
b A jewelry owned by Mrs. A before Marriage; Cost 600,000/ FV is 900,000
c Home Appliances at home; current value is 500,000
d Bank account acquired during marriage-joint account w/ Mr X (50%)-400,000
e Land of 1.3M acquired by Mr. A thru gift during marriage (where the Family House was built)
f Apartment inherited by Mr. A from his parents= 6,000,000 during marriage
g Fruits (rental income) from letter (f) / Apartment of 200,000
h Land inherited by Mrs. A from his parents= 2,000,000 before marriage
i Family House of 5.2M was built out of Mrs A's income earned during marriage
Ordinary deductions- exclusive is 1,300,000 while ordinary deductions- conjugal totaled 2,800,000. What is the taxable net estate of Mr A under CPOG?
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