How much is the estate tax

Assignment Help Accounting Basics

Reference no: EM132788070

The following pertains to the estate of a citizen decedent:

Separate properties of the decedent P12,400,000
Common properties of the spouses P15,600,000.

Possible deduction are as follows:

Funeral expenses P480,000

Judicial Expenses P220,000

Obligations (1/4 is separate property) P1,800,000

Family home (common property) P15,000,000.

Problem 1: How much is the estate tax?

Reference no: EM132788070

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