During his lifetime, Miguel donated and transferred the ownership of a real property to his eldest son. For taxation purposes, the property value is P2,000,000. When Miguel died, he left properties and rights totaling P24,000,000. One of the property is subject to an unpaid mortgage of P3,000,000. The estate tax amounted to 100,000. How much is the amount of estate to be distributed to the heirs (distributable or hereditary estate P26,000,000 P24,000,000 P22,900,000 P20,900,000
During his lifetime, Miguel donated and transferred the ownership of a real property to his eldest son. For taxation purposes, the property value is P2,000,000. When Miguel died, he left properties and rights totaling P24,000,000. One of the property is subject to an unpaid mortgage of P3,000,000. The estate tax amounted to 100,000. How much is the amount of estate to be distributed to the heirs (distributable or hereditary estate P26,000,000 P24,000,000 P22,900,000 P20,900,000
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 29CE
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During his lifetime, Miguel donated and transferred the ownership of a real property to his eldest son. For
P26,000,000
P24,000,000
P22,900,000
P20,900,000
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