How much will be the vanishing deduction

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Problem

On September 4, 2023, Joe Tie died leaving an apartment building which has a fair value of P10,000,000 which he inherited from his mother. The property was valued at P9,000,000 at the time of inheritance dated July 28, 2020. The building has a previous mortgage of P1,500,000 of which P500,000 was paid by Joe Tie prior to his death. Get the instant assignment help. In computing for the vanishing deduction, what percentage will be used and how much will be the vanishing deduction?

Reference no: EM133903239

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