Shin, RC, died on Jan 1, 2022 (married 2010). Shin left the following properties: -Building (inherited, 1.5 yrs ago,located in Phil, from his father (during marriage) 1,200,000.00 ( With Unpaid Mortgage of 200,000 assumed by Shin). (Before death, Shin paid 100,000) -Family Home-conjugal, 4,000,000.00 Red car (destroyed by fire on Feb 2022, reimbursed by insurance is 200,000 only) -exclusive property; 500,000.00 - Idle land (conjugal) was transferred to Govt of the Phil 500,000.00. Funeral expenses 180,000.00 Claims against estate-conjugal; 100,000 What is the net estate BEFORE special deductions (FH, SD and RA 4917)? For any ratio or % to be used, pls round off up to two decimal places.

Shin, RC, died on Jan 1, 2022 (married 2010). Shin left the following properties: -Building (inherited, 1.5 yrs ago,located in Phil, from his father (during marriage) 1,200,000.00 ( With Unpaid Mortgage of 200,000 assumed by Shin). (Before death, Shin paid 100,000) -Family Home-conjugal, 4,000,000.00 Red car (destroyed by fire on Feb 2022, reimbursed by insurance is 200,000 only) -exclusive property; 500,000.00 - Idle land (conjugal) was transferred to Govt of the Phil 500,000.00. Funeral expenses 180,000.00 Claims against estate-conjugal; 100,000 What is the net estate BEFORE special deductions (FH, SD and RA 4917)? For any ratio or % to be used, pls round off up to two decimal places.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter17: Property Transactions: §1231 And Recapture Provisions

Section: Chapter Questions

Problem 46P

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