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Multiple Choice – Problems Part 1

1. A single decedent died with the following data regarding his
estate:
Family home
Agricultural land
Cash and other personal properties
Total

800,000
2,500,000
1,200,000
4,500,000

Items of deductions:
Funeral expenses
400,000
Medical expenses – unpaid
200,000
Judicial expenses
300,000
Claim against the estate
500,000
Standard deduction
1,000,000
Total
2,400,000
Compute the net taxable estate
a. 2300000
b. 2100000
c. 1500000
d. 1300000
2. Assuming that the estate tax in the preceding problem is
P95,000, compute the net distributable estate.
a. 3100000
b. 3005000
c. 2100000
d. 2005000
3. The following data were relates to the estate of a single resident
decedent:
Gross estate including 1.5M family home
6,000,000
Ordinary deductions
1,800,000
What is the net taxable estate?
a. 4200000
b. 3200000
c. 2200000
d. 1200000
4. Romeo died leaving his wife, Juliet, the following net conjugal
properties:
Gross estate, including 1.5M family home
Less: ordinary deductions
Total
Compute for the net taxable estate:
a. 5600000
b. 4600000

8,000,000
2,400,000
5,600,000

a. 8000000 b.000 after the following: Funeral expenses Judicial expenses Claims against the estate Losses Compute the net taxable estate.400. 2800000 d. compute the net distributable estate of Capt.000.000.000) Judicial expenses (200. X.000 150. a non resident citizen bachelor. a. had net estate of P1.400. 6405000 7.000) Paid medical expenses (600. Mr.000 800.000 2.000. 1800000 6. My.000 Less: funeral expenses (300.000 Other properties 8. 750000 8. Capt. Y Communal properties Funeral expenses Other ordinary deductions to communal properties 250. died in action leaving the following net estate to his mother: Family home 2.000 2. 6845000 d.000) Claims against the estate (1.c.000 200. 7445000 c.600. 900000 c.800.000 100.000 .000) Net estate 7. single Filipino. Jeffrey Magiting. Assuming that the estate tax is P555.500. 800000 5.000 Compute for the net taxable estate. 850000 d.000. 5600000 c. Y died leaving the following properties and estate deductions: Separate properties of Mr.000 1. 1850000 b. Y Separate properties of Mrs. 1050000 d.000 Total properties 10.000. Magiting. a.000 600. 6600000 b.

Y 900. Y.000 Possible deductions Funeral expenses 180. 3950000 d.Ordinary deductions – exclusive of Mr. 2950000 d. judicial expenses and P250. 3000000 c.200. Y 400. Y died. a.000. 410000 b. Y 500.000 Family home – exclusive of Mrs. 5300000 b.000 after deducting all indebtedness. 1600000 d.000 funeral expenses. compute the her net taxable estate.000 5.200.400.750. 3850000 . 800000 c. compute the net distributable estate.000 Family home – common property 1.000 What is the taxable net estate? a.000 Ordinary deductions – exclusive of Mrs. 4550000 b. The following pertains to the estate of a citizen decedent: Separate properties of the decedent Common properties of the spouses 2. What is the net taxable estate? a. 1800000 10. 3550000 c. Assuming instead that Mrs.000 Obligations (1/4 of is separate property) 800. 1800000 Multiple Choice – Problems Part 2 1. 4450000 c.000 estate tax. a. 2550000 2. 2800000 d.000 Compute the taxable net estate of Mr. 510000 c. losses. 600000 b. A decedent had a net estate of P3. taxes. 600000 d. Included in the estate was his family home worth P1. 1600000 9. Assuming a P100.600. a. 4000000 b.000 Judicial expenses 120.

000 1.000. 3800000 4. The following data pertains to the estate of a married non resident alien decedent: Philippine properties Separate properties of the surviving spouse Separate properties of decedent Common properties Total foreign properties.000.000 Obligations (20% PH) 500.000 5.3. 4450000 b.000 180.000 Judicial expenses 400.000 Medical expenses 300. 3370000 d.000 1.000 500.000 10.800. 4950000 c. 2800000 3. a.000 Losses 300. 3300000 5.500. a.000 900. 4300000 d.000 10.000 .000 Possible deductions Funeral expenses 200.200.000 3.200. excluding P5. A single non-resident alien decedent died with the following gross estates and deductions: Tangible properties in PH Intangible properties in PH Tangible properties abroad Total gross estate 4.000 500.000 Transfer for public use (property in PH) 500.000.00. 3460000 c. 3200000 b.000 separate properties of surviving spouse Possible deductions Funeral expenses Judicial expenses Medical expense Obligations – common fund Family home – common property What is the taxable net estate? a.000 Compute the net taxable estate. Assuming that the reciprocity rule applies. compute the net taxable estate. 3090000 b.000.000 120.

Servano. 7600000 b.000 Japan 3. 1600000 b.500.000 Items of deductions Funeral expenses 350. 2600000 c. 1425000 d.000 Claim against insolvent person 500.000 800.000 5. had the following Philippines 5.000 Claim against the estate 2.000 3.000 1.000. Mori paid P150.800. 5600000 d. a.000. 1625000 8.200. a widower: Cash Investment in stocks Car Agricultural land Family home 500. Mr.000. 163625 . Compute the net taxable estate abroad. The following properties pertains to the estate of Mr. 5100000 7.000.000.000 estate tax abroad.000 1. a.000.600. 1800000 b.000 deduction Compute the net taxable estate in the Philippines. a.000. 7100000 c. a.000 2. Assuming global estate tax of P289.000 1. Mori. PH 800. 1775000 9. 167875 b. 2000000 d.c.000 Gross estate Ordinary deductions Family home.000 Theft of cash 700.000 Standard 1.000. 1975000 d. a resident Japanese citizen.000 Judicial expenses 200.000 Compute the net taxable estate.000 2. 800000 c. compute the estate tax payable assuming the estate of Mr.000.000 Total 8. 0 6.

595000 Multiple Choice – Problems Part 3 1.00 standard 0 deduction Estate tax paid 220.000 2. 53625 10.000 7. 4750250.000 Estate before 6. 1830000.00 0 320.880. before standard deduction Net estate abroad.000 4.000 14. before standard deduction Net estate.250.000. 4850000. China and Taiwan.25 d.000 Taiwan 4.000 550. a.300.500.020.200. 1065000 b.00 0 16.200.000 1.700.000 1. A single resident citizen died leaving the following estate and deductions: Family home Other properties Philippines China 1.000.200.000 470.000 150. 585000 c.250.000 3. a.250.000. A single resident alien decedent died with the following net estate: Net estate in the PH. 615000 b. 1818750.000 6.000 100. 2424000 11.000 4. 1870500. 1825750.000 70.000.000.000 1. 2279500 d. Compute the estate tax due and payable in the Philippines.000 . a.000 250. 955000 c. 465000 2.000 3. 139000 d.c.000. 2520000 c.200. 2450000 b.000 4.000 Funeral expense Judicial expense Obligations Total 250.000 800.000.800.800.000 Compute the net taxable estate in the Philippines.000 Total 1.800.980.000 2.000 2.000 1.000 300.00 3. respectively.000 Total estate 9. 1065000.500.000 10. 599781. world before standard deduction Compute the estate tax. 4650000.

000 Medical expenses (20% unpaid) 250.000.exclusive 200.000 Common properties of the spouse 12. 615000 b. 71000 In the immediately preceding problem.000 Total allowable deduction for ELIT 1. 6900000 b. 585000 c. d.000.000 Total allowable deduction for ELIT – common 1. 0 b. 3.000. a. . compute the estate tax assuming the decedent is a non resident alien.800.000 Transfer for public use . 10000 c. 4900000 6. 4.800. 5900000 c.200.000.000. Compute the estate tax. 14000 d. 5.000 The common properties includes a family home worth P1. compute the estate tax assuming the decedent is a non resident alien.000 Transfer for public use 200. Compute the net distributable estate assuming that the estate tax was P240.000 Vanishing deductions – exclusive 500.100. 190000 In the immediately preceding problem. 71000 A married citizen died leaving the following net estate: Exclusive properties of the decedent 3. 10000 c.000 Medical expenses 600. 14000 d. The heirs of the decedent bachelor want to determine their net distributive share in the net estate. 5150000 d. Details of the estate of the decedent were as follows: Gross estate 7.000. 190000 A single resident alien without a family home had a net estate of P1.500.000 after allowable deduction of ELIT items totaling P800.000 The total actual ELIT was P2. Compute the net taxable estate. a.2. a.000. 40% of the properties of the decedent were from the Philippines. a. 465000 d.000 Vanishing deductions 500. 0 b.

000 estate tax abroad including P70.000 lot 2. 1065000 b. respectively.000.000.000 9. Compute the net taxable estate. The lot where the family home stands was received by Mrs.000 4. inclusive of P2.000 Net estate in Singapore 200. Bank deposit Business interest Commercial building Family home. 285000 9. The commercial building was mortgaged to a bank for P1. a.100. a. Masiba died. There were P100.500.000 Total net estate 740. 4240000 7.000. . Compute the estate tax payable. The commercial building was purchased using donations received by Mr.000 2.000 in the Philippines and P6. Funeral expenses and judicial expenses of P400. 392500 8.000 and P200. Mr.000 accrued interest at the death of Mr.000 3.000 3. 4510000 c.000.000. 615000 c. Masiba.000 abroad.500. 347500 c. Mr. 4410000 d. Masiba as inheritance during the marriage.000 1. He paid P300. Masiba paid P500. 4710000 b.000 Estate tax paid Net estate in PH Net estate in Taiwan 240. A resident citizen died with various properties abroad: Taxable estate 2.000 3.000 Net estate in Indonesia 300.000.000. Masiba death. The same building sustained a P400.000 prior to Mr. Masiba died leaving the following properties.000 attributable to properties situated in the Philippines.000. 355000 d.000 was incurred by the estate.000.500.000 fire loss shortly after Mr.000 Compute the estate tax payable. Masiba during the marriage. and Mrs.000 Additional information: 1. A non resident alien died leaving a net taxable estate of P4.a. 325000 d.800. 915000 b.

000 300. 3550000 1.000 800. d. 7100000 7000000 3850000 3750000 The following related to the estate of a single decedent: Receivables representing proceeds of life insurance irrevocably designated to a brother Motor vehicles Investment in bonds Stock investments Land Funeral expenses (1/2 paid by friends) Loss – motor vehicle Obligations (1/4 accruing after death) Compute the net taxable estate. a.000.000 4.000 . c. 10. 3150000 d. 4150000 b.000 300.000 600.000 400.a.000 400.000. b. 3950000 c.