RsSA: The Review School of Accountancy Page 2 of 9

i^ 6. The gross estate o.f Lhe decedent rs P5,000,000. The total amount of funeral
expenses incurred is P130r000, where P20,000 is st-iI1
I
The funeral expenses
-unpa_i,cl.
j"rrcur:red is in addition t-o'the inemorial plan of l.he decE-dent- amouncinq Lo P50,000.
much is the Ceductible 1-uneral expenses?
P200,000 c. P160,000
P180,000 c. None of the cholces

1. Which of the followirig is allowecl as j!d-itl3! e><pslqes- deducti.on from the gross
'r'
estar-e ?
a. Expenses incui:red in the administration and sr=ttlement of an estat-e in
extraj udicia I proceeding-s
b. Compensation paid to a trrstee of LLre decedent/si €jstate when it appeared that
such trustee was appointed for the purpcse of managi.ng the decedent's real
est-ate for Lhe benefit cf the testamentary heir.
I,remi-ums paid. on the bond f iled by t-he a<iministr:ator as an expense of
administratj.on sjnce qi.ring the bond i.s i.n nature of a quallfication for tire
'office.
d. Attorney's.fees incicient f-o lit.igation incurred by tire heirs in asserti.ng their
respective rigf,t s .

To miti$ale the harhness of successive taxation cf the same pr:operty occasioned by

the dealh occrirr:ing within a short per:iod of time, the law aLlows as deduction:
a. C-laims against the esta'Le.
ir . Claims against i n.sol vertt per:sor).
r. Vani.shing cieduction.
i:i. Share of sur-,riv1.ng spouse.

9. Which of the followinq is €' a condition fr)r t-he allowance of family hr:me
deduc L i on?
a. lfhe farniJ-y hoine must be the actual resjdential home of the decedent and his
family at the time of his death, as cer:tified by tLre Barangay Captain of the
oca1..i-ty t.he farnily home is sit-uat.ed.
.1

b. Tire total walue of the fami-Ly home must be includ.ed as par:t cf the crro.ss estate
w.L Lhe decedenl
t- c, All.o',.able deducr-icn must be in arr amou;rt equivalent to the current fair m.a::ket
value of Lhe famiry home as dectared or: inclr.rded in +-ire,gross estate, or Lo Lhe
extent of Lhe decedent's _,i,n-Le-r:est (whethcr ccnjugal/comrnunity or exci us-ive
prope.rLy) , whichever: isi.hlgherl bqt noi excee.-ling P 1,000,0C0.
i. None of the chcrices
--'-/
10 .:.e actual medical expenses incur:red wilfrin the' 1,ear prior Lo decedenl-, s death tis
P600, 000. Only P500, 0C0 was pairl ancl the r-emaining P100, 000 is stil--l unpard and
"iil- be paid by the estate. The a:r,ount deductible as c__faiJl_aga_1_osl_lho eqtaje, i.s:
. P600,000 . c. tl rre ,0i10
;Ll ilrl,'.^{h\ b !- - E,EOO. OOO d . tlot-e of Lrre cho,'r..;c;.

i-, 11. i{l i::n shal1 the estate tax be pai.c_l to avo,id pena}t-i.es?
t
i-1. within 6 months after i:he decedent,s c_leath.
(r. As re Lurn is f i1ed.
C. Anytime dur:ing the year tne decedent rlir:d.
I 12, Gross esta[e of the decedenl is 1i_5_!, 00! corrpris inq r:f c4r , Ianri and shar:e-s of
stock. Which of t-he foliowing i.s !o! rcquired?
I
;l- Notice of cleathr
Iwx( 1\-
h Estate tax reLr.rrn
t. Statements cerL.ified to by a CPA
d. A11 of Lhe choices
13. If the estate of a J.lpanese a-Licn resldlnq in Tokyo hap an execut,or or
aclministrator .j n the Philippi.nes who j.s duly registered, the esr.ate tax return
::1r,., -1 be filed wi-th:
.,. ;he Offj-ce of t-he Commissicner (RDo No. 39 - Soul-h Quezon City) .
1,. ilevenue District Office where the executor or.rchnini-straLor is regj,stered.
,.:. Revenue District Of fice hawing jr:risdic.trorr over Lhe execi-ttor or
admioi strator' s legal. re.s j cjeace
r,l . Duly aul-horized Treasurer: of the city or muni.cipality where the dec,edent w<ls
domiciled al the Lime of death.