For numbers 1-4, refer to the following data: Mr. Sheridan,…

Question Answered step-by-step For numbers 1-4, refer to the following data: Mr. Sheridan,… For numbers 1-4, refer to the following data:  Mr. Sheridan, bachelor and resident citizen, died leaving the following property: House and lot in San Francisco del Monte Quezon City (Family Home) P3,000,000 Honda Civic car 650,000 Farm in Camiling, Tarlac 500,000 Bank deposit at Solid Bank in Pasay City 1,500,000  The following are being claimed by his executor as deductions: Actual funeral expenses 250,000 Judicial expenses 30,000 Medical expenses incurred 2 months before death 150,000 Family Home 3,000,000  1. How much ordinary deductions can be claimed under TRAIN LAW? a. P-0- b. 312,500 c. 200,000 d. 230,000  2. How much special deductions can be claimed under TRAIN LAW based on the given data? a. 2,150,000 b. 3,000,000 c. 8,000,000 d. 3,150,000 3. How much is the gross estate? a. 3,650,000 b. 2,650,000 c. 5,650,000 d. 4,050,000  4. How much is the estate tax due?  a. 108,600 b. 274,700 c. 3,500 d. P-0-   Law Social Science Tax law COB BUSLAW3 Share QuestionEmailCopy link Comments (0)