Abucejo, Daryllle Jane F.

BSA - BCC

PROBLEMS
1. If the decedent is a non-resident citizen, his gross estate is:
Land in Italy
Franchise in USA
Receivable from debtor in Philippines
Receivable from debtor in USA
Bank deposits in USA
Shares of stocks of PLDT, Philippines
Shares of stock of ABC, foreign corporation, 75% of the business in the Philippines
Other personal properties
Zonal value of the land in Laguna
Gross Estate

2.Using the above data, if the decedent is a non-resident alien, his gross estate is
Receivable from debtor in Philippines
Shares of stocks of PLDT, Philippines
Other personal properties
Zonal value of the land in Laguna
Gross Estate

3.If in the preceding number there is reciprocity, the gross estate is

Zonal value of the land in Laguna
Other personal properties
Gross Estate

4. The gross estate should show the said shares at

Issued Share Capital (10,000 shares)
Retained Earnings
Total Equity
Then:
Total Equity
Divided by Number of shares
Book Value per Share
Number of shares
Gross Estate
5. Determine the gross estate of J. Reyes.

Real properties
1,000 shares in Good Corporation
Investment in TY Partnership
Other personal properties
Cash
Gross Estate

6.Determine the net estate subject to tax and the net distributable estate
Real Properties
Family home
Personal Properties
Gross Estate
Less:
Medical Expenses
Allowable Deductions
Family Home
Standard Deduction
Net Taxable Estate
Net Tax Rate
Net Tax Due/ Payable
Distributable Estate

7.Determine the net estate subject to estate tax

8.Determine the estate tax due after tax credit.

Net Estate - Philippines
Net Estate - USA
Net Estate - Australia
Net Estate- World

Estate Tax Due

Less: Tax Credit
Tax Payable

9.Determine the net estate subject to tax, and the net distributable estate
Real Property- conjugal
Real Property- exclusive (A)
Family Home- exclusive (A)
Gross Estate
Less:
Medical Expenses
Allowable Deduction- conjugal
Real Property- conjugal
Standard Deduction
Family Home- exclusive (A)
Net Taxable Estate
Distributable Estate

10. Determine the net taxable estate

Real Property-conjugal
Real Propery- exclusive ©
Gross Estate
Less:
Real Properties-conjugal
Allowable ordinary deduction
Standard Dedution
Net Taxable Estate

11. Determine the net taxable estate

Real Property- conjugal
Real Property- exclusive (e)
Real Property- exclusive (e)
Family home - conjugal
Gross Estate
Less:
Allowable Deductions- conjugal
Real Property-conjugal
Family home
Standard Deduction
Gross Estate

12.Determine the net taxable estate

Real Property- Manila Conjugal

Real Property - QC Conjugal
Personal Properties- Manila Exclusive
Gross Estate
Less:
Real Property - QC Conjugal
Real Property- Manila
Allowable Ordinary Deductions
Standard Deduction
Gross Estate
14. Determine the estate tax due and payable.

15.Determine the net taxable estate of A

Cash and other properties
RA 4917
Gross Estate
Less:
Ordinary Deductions
Family Home
Benefits under RA 4917
Standards Deductions
Net Taxable Estate
 BSA 2105 - 10:50/12:21
Prof. Joseph Co

PROBLEMS

P 2,000,000
100,000
70,000
100,000
80,000
75,000
125,000
300,000
750,000
P 3,600,000

70,000
75,000
300,000
750,000
P 1,195,000

750,000
300,000
P 1,050,000

500,000
2,000,000
P 2,500,000

2,500,000
10,000
P 250
1,000
P 250,000

P 1,500,000
1,000,000
400,000
300,000
785,000
P 3,985,000

Net Estate Distributable Estate

P 4,000,000 4,000,000
1,200,000 1,200,000
2,000,000 2,000,000
7,200,000 7,200,000

600,000
800,000 800,000
1,200,000
5,000,000
P 200,000 P6,400,000
6% -12,000
12,000
₱ 6,388,000.00

P 5,000,000
3,000,000
2,000,000
P 10,000,000

300,000
-90,000
P 210,000

Net Estate Net Distributable Estate

P 4,000,000 4,000,000
 2,500,000 2,500,000
1,200,000 1,200,000
7,700,000 7,700,000

600,000
700,000 700,000
2,000,000 2,000,000
5,000,000
1,200,000
P -1,200,000 P 4,400,000
P 4,400,000

P 4,000,000
3,800,000
7,800,000

1,400,000
1,200,000
5,000,000
P 200,000

P 5,000,000
4,000,000
6,000,000
6,000,000
21,000

800,000
2,500,000
3,000,000
5,000,000

P 7,000,000
800,000
1,800,000
9,600,000

400,000
3,500,000
1,200,000
500,000
P 4,000,000
 P 2,500,000
1,000,000
3,500,000
700,000
1,800,000
1,000,000 x 50% 500,000
5,000,000
P -4,100,000