David Ilustre made the following donations ,with fair market value…

Question Answered step-by-step David Ilustre made the following donations ,with fair market value… David Ilustre made the following donations ,with fair market value at the time of donation, as follows: January 5 ,2021 Cash P175,000 February 14, 2021 Wrist watch 200,000 November 1  , 2021 Car subject to a mortgage of P250,000 assumed by the donee 500,000 January 5, 2022 Cash 250,000. Determine the donor’s tax on the January 5, 2021 donation:   a. P10,500 b. P0 c. P7,500 d. P15,000 Law Social Science Tax law Share QuestionEmailCopy link Comments (0)