Tejada, Patricia Maxinne Mae B.

1. D 11. B 21. D 1. Exceded 10M

2. B 12.B 22. C 2. Lucasta's Properties 12,500,000
3. B 13. B 23. C Less: Deductions
4. B 14.A 24. B Deductions Expenses -1,125,000
5. C 15. A 25. D Standard Deduction -5,000,000
6. C 16. A 26. A Net Taxable Estate 6,375,000
7. C 17. B 27. A
8. D 18. A 28. B 3. House, Conjugal 8,000,000
9. D 19. A 29. C Vacation House in Baguio 2,000,000
10. B 20. B 30. D Family Home Gross Estate 10,000,000

4. House, Conjugal Property (8,000,000/2) 4,000,000

Land, Exclusively Owned 2,000,000
Deductable Amount 6,000,000

5.Exclusive Real Property

Conjugal Real Property
Conjugal Personal Property
Gross Estate
Less Deduction:
Mortgage, Exclusive Real Property
Standard Deduction
Less: Share of Surving Spouse
Gross Conjugal
Less Ordinary Deductions
Total
Multiply by Share of Decedent
Net Taxable Estate

6. Gross Estate 6,000,000

Less: Deductions
Charges against estate -210,000
Standard Deduction -5,000,000
Net Taxable Estate 790,000

7. Family Home (8,000,000x20%) 1,600,000

Standard Deduction 5,000,000
Claims Against Insolvent Persons 100,000
Total Deduction from Gross Estate 6,700,000

8. Loans Payable, PNB 300,000

Bad Depts 60,000
Death Benefits from Employer 200,000
Deductable Amount 5,600,000

9. Unpaid 2017 Real Estate Taxes 40,000

Unpaid 2018 Real Estate Taxes 40,000
Income Tax on Income Jan 1 to Aug 2018 35,000
Casualty Loss on September 450,000
Standard Deduction 5,000,000
Deductible Amount 5,565,000

10. Family Home, Conjugal Property (8,500,000/2)

Land
Deductable Amount
 11. none

12. Real Properties

Family Home
House and Lot, Sydney
Claims Against Insolvent Persons
Bank Deposits
Share of Stock
Gross Estate

13. Family Home

Bad Debts
Unpaid Mortage
7,500,000 Deductible Amount
8,500,000
4,500,000 14
20,500,000 Exclusive Real Estate
Conjugal Real Estate (Family Home)
300,000 Conjugal Personal Property
5,000,000 5,300,000 Gross Estate
Less Deductions:
13,000,000 Family Home 1,500,000
-300,000 Conjugal Real Estate Mortgage 90,000
12,700,000 Unpaid Taxes 124,500
zero.five -6,350,000 Standard Deduction 5,000,000
8,850,000
Less: Share of Surviving Spouse
Gross Conjugal 3,800,000
Less: Ordinary Deductions (214,500)
Total 3,585,500
Multiply by Share of Decedent 0.5

Net Estate Subject to Estate Tax

Real and Personal Properties in the Philippines
Family Home in Canada
Gross Estate

15. Personl Property Within

Real Property Within
Personal Property Without
Real Property Without
Grooss Estate
Less: Deductions
Claims Against the Estate, Credit
Standard Deduction
Taxable Net Estate
 16. Residential land inherited 8,500,000
Commercial land inherited 5,000,000
Family Home acquired during 3,000,000
4,250,000 House and lot in California, USA acquired during 2,000,000
2,000,000 Notes Receivable, debtor resides in USA 100,000
6,250,000 Notes Receivable, debtor resides in PH 200,000
Other Personal properties 140,000
Gross Estate 18,940,000

17
Value in estate of prior decedent
Value in estate of present decedent
Lower Value
Less: Mortgage Paid
Initial Basis
Less: Deductions
Claims Against Insolvent 80,000
Total 80,000
Deductable
Net taxable estate
Tax rate
Vanishing Deduction

18
Residential land inherited
Commercial land inherited
Family Home acquired during
House and lot in California, USA acquired during
Notes Receivable, debtor resides in USA
Notes Receivable, debtor resides in PH
Other Personal properties
Gross Estate
Less: Deductions
Claims Against Insolvent 80,000
Vanishing Deduction 788,137
Family Home 1,500,000
Standard deduction 5,000,000

Less: Share of Surviving Spouse

Gross Conjugal 5,000,000
Less: Ordinary Deductions 760,072
Total 5,760,072
Multiply by Share of Decedent 0.50
Net estate

19
Value to take whichever is lower
Less: Mortgage Paid
Initial Basis
2nd deduction:
Initial Basis 300,000
Gross Estate 3,000,000
LIT 95,000
Net Taxable Estate
Tax Rate
Vanishing Deduction

20. Real Property inherited from her husband 2,960,000

Personal properties in canada 2,300,000
Real and personal property in PH 670,000
Family home in canada 2,500,000
Gross Estate 8,430,000
 3,200,000 21. none
1,100,000
1,500,000 22. Value to take whichever is lower
100,000 Initial Basis
800,000 Gross Estate
50,000 LITE
6,750,000 Net Taxable Estate
Tax Rate
Vanishing deduction

1,100,000 23. Real Property inherited from her husband

100,000 Personal properties in canada
30,000 Real and personal property in PH
1,230,000 Family home in canada
Gross Estate
Less: Deductions
6,000,000 Other deductable expenses
3,000,000 Vanishing Deduction
800,000 Family Home
9,800,000 Standard deduction
Net estate subject to tax

24. Real Estate Conjugal:

(6,714,500)
Personal Properties, Separate:

(1,792,750)
2,960,000
1,292,750 2,300,000
670,000 25. None
2,500,000
8,430,000 26. Value to take whichever is lower
Mortgage Paid
1,700,000 Initial Basis
2,600,000 Gross Estate
2,300,000 LITE
3,000,000 Net Taxable Estate
9,600,000 Tax Rate
Vanishing Deductions
s Against the Estate, Creditor Residing Abroad -30,000
ard Deduction -5,000,000
4,570,000
 4,000,000
8,500,000
4,000,000
-
4,000,000

(59,315)
3,940,685
20%
788,137

8,500,000
5,000,000
3,000,000
2,000,000
100,000
200,000
140,000
18,940,000

(7,368,137)

(2,880,036)
8,691,827

350,000
50,000
300,000

9,500
290,500
20%
58,100
whichever is lower 2,600,000
2,600,000
8,430,000
850,000 262158.95610913
2,337,841
80%
1,870,273

nherited from her husband 2,960,000

es in canada 2,300,000
property in PH 670,000
2,500,000
8,430,000

8,430,000
1
-
5,000,000 (13,430,001)
(5,000,001)

4,000,000
House in Cebu City 2,500,000
House in Japan
es, Separate: 100,000
Domestic Shares 450,000
Household Appliance in Japan 135,000
Accounts Receivable from Debtor Residin in the
Philippines 85,000
Claims Against Debtor in Japan, Insolvent 7,270,000
Gross Estate

whichever is lower 1,700,000

120,000 1,580,000
1,580,000
10,850,000
560,000 81,548
1,498,452
40%
599,381