For numbers 9-10, refer to the following data: Mr . Polo made…
Question Answered step-by-step For numbers 9-10, refer to the following data: Mr . Polo made… For numbers 9-10, refer to the following data: Mr . Polo made donations of their conjugal property to the following:DoneeProperty donatedFair market valueTo Berna, daughter and Mario, her groom on their marriageResthouse in ZambalesP8,000,000 To Phil. National Red CrossCash500,000To the Province of BulacanLot for public playground2,000,000To Dina, Mr. Polo’s sister as gift for Dina’s birthday Apartment one unit700,000To Mayor Reynes who is running for re-electionCash500,000 To Lito, Mr. Polo’s brother for topping the medical board exam exam Cash500,000 On the one-unit apartment donated by Mr. Polo to her sister, it has unpaid mortgage of P300,000. Of the P500,000 cash given to Mr. Polo’s brother, Lito, Mr. Polo pointed out that P30,000 must be donated to St. Paul, The Apostle Parish. Assuming P250,000 exemption is not applicable 9. How much is the taxable net gifts of Mr. Polo? a. 8,870,000 b. 3,870,000 c. 11,870,000 d. 3,620,000 10. How much is the donor’s tax of Mr. Polo? a. 232,200 b. 532,200 c.412,320 d.217,200 Law Social Science Tax law COB BUSLAW3 Share QuestionEmailCopy link Comments (0)


