Practice question
Distinguish a present completed gift, an uncompleted promise to make a future gift, and later income earned from gifted property. Why should they not all be treated as the same donor's-tax event?
Legal references
- NIRC Sections84-85,98 and104, read with TRAIN amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA10963, TRAIN, estate and donor tax amendments including Sections99-100: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
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