solved: Tristan, Married, Donated a land commonly owned by him and her…


Tristan, Married, Donated a land commonly owned by him and her…Tristan, Married, Donated a land commonly owned by him and her spouse worth P500,000 to her friend Faishan. Only Tristan signed the deed of donation. Faishan assumed P200,000 unpaid mortgage on the property. How much is the donor’s tax Due? a.6,000  b.1,000  c.90,000  d.45,000 Levy operates a small grocery store while she is practicing her accounting profession. In 2018, her gross sales amounted to P1,300,000, in addition to her receipts from accounting practice of P500,000. The cost of sales and operating expenses incurred on the grocery were P600,000 and P120,000 respectively. The cost of services on the profession was P95,0000. How much is the tax due of Levy? 985,000  405,000  100,000  625,000 Christine, who is married, gave her friend Lina P250,000 worth of land that she and her husband owned. Only Christine signed the deed of donation. Christine assumed a P50,000 unsettled mortgage. How much is the donor’s tax due? 20,000  40,000  50,000  60,000  LawSocial ScienceTax law

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