Mr A and Mrs A, married couple and residents of Philippines had thefollowing data in 2018: a A red car in the name of Mr A acquired before marriage; BV is 1M; FVis 1,800,000 b A jewelry owned by Mrs. A before Marriage; Cost 600,000/ FV is900,000 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 theFamily House was built) f Apartment inherited by Mr. A from his parents= 6,000,000 duringmarriage 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 duringmarriage Ordinary deductions- exclusive is 1,300,000 while ordinary deductionsconjugal totaled 2,800,000. What is the taxable net estate under ACOP? (MrA is the decedent).a. 2,000,000b. 1,200,000c. 1,600,000d. 800,000e. 2,400,000 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 deductionsconjugal totaled 2,800,000. What is the taxable net estate under ACOP? (Mr
A is the decedent).
a. 2,000,000
b. 1,200,000
c. 1,600,000
d. 800,000
e. 2,400,000
f. none of the above
Step by step
Solved in 2 steps
