Mendoza, Jhomar G.

BSA-3A

Problem 1
Exclusive Conjugal Total
Conjugal Properties
Apartment, 3 units 1,000,000
Bank Deposit 700,000
Domestic shares 500,000
Car 400,000 2,600,000
Exclusive Properties
Family Home 1,250,000
Vacant lot 300,000 1,550,000
Gross Estate 1,550,000 2,600,000 4,150,000
Less:
Conjugal Deductions
Funeral Expenses - 90,000 - 90,000
Unpaid mortage on apartment - 300,000 - 300,000
Note Payable - 60,000 - 60,000
Exclusive Deductions
Legacy to Hospicio de San Jos - 20,000 - 20,000
New Estate After Deductions 1,530,000 2,150,000 3,680,000
Less:
Share of Surviving spouse - 1,075,000 - 1,075,000
Family home - 1,000,000 - 1,000,000
Standard Deduction - 1,000,000 - 1,000,000
Net Taxable Estate 530,000 75,000 605,000

Estate Tax Due

500,000 15,000
105,000 at 8% 8,400
605,000 23,400

Problem 2
Exclusive Conjugal Total
Conjugal Properties
Family home 1,350,000
Tobacco plantation 2,000,000
Bank deposit, PDCP 650,000
Personal property 300,000
Notes Receivable 200,000 4,500,000
Exclusive Properties
Family Vacation house, Tagayt 800,000
Family lot 500,000 1,300,000
Gross Estate 1,300,000 4,500,000 5,800,000
less:
Conjugal Deduction
 Funeral Expenses - 80,000 - 80,000
Unpaid Mortgage on plantation - 200,000 - 200,000
Net Estate After Deductions 1,300,000 4,220,000 5,520,000
less:
Share of surviving spouse - 2,110,000 - 2,110,000
Family home - 325,000 - 675,000 - 1,000,000
Standard Deduction - 1,000,000 - 1,000,000
Net Taxable Estate 975,000 435,000 1,410,000

Estate Tax Due

500,000 15,000
910,000 at 8% 72,800
1,410,000 87,800

Problem 7
Exclusive Conjugal Total
Conjugal Properties
Real Properties 4,500,000 4,500,000
Exclusive Properties
Family Home 1,750,000
Other Exclusive Properties 2,800,000 4,550,000
Gross Estate 4,550,000 4,500,000 9,050,000
Less:
Ordinary Deductions
Conjugal Properties
Funeral Expenses - 200,000 - 200,000
Other Deductions - 1,600,000 - 1,600,000
Total Conjugal Deductions - 1,800,000 - 1,800,000
Net Conjugal Estate 2,700,000
Special Deductions
Family Home - 1,000,000
Standard Deduction - 1,000,000
Medical Deduction - 500,000
Total Deductions - 4,300,000
Net Estate 4,750,000
Less: 1/2 share of surviving spouse
Conjugal Property 4,500,000
Conjugal Deduction - 1,800,000
Net Conjugal Estate 2,700,000 1,350,000
Net Taxable Estate 3,400,000
0

Problem 8
Exclusive Conjugal Total
Conjugal Properties
Family home 2,500,000
Other Real Properties 3,800,000 6,300,000
Exclusive Properties 2,200,000 2,200,000
Gross Estate 2,200,000 6,300,000 8,500,000
less:
Ordinary Deductions
Conjugal Deductions
Funeral Expenses - 200,000
Other Deductions - 1,700,000
Total Conjugal Deductions - 1,900,000 - 1,900,000

Gross Conjugal Estate 6,300,000

less: Total conjugal deductions - 1,900,000
Net Conjugal Estate 4,400,000

Special Deductions
Family home - 1,000,000
Dtandard Deductions - 1,000,000
Medical Expenses - 480,000
Total Deductions - 4,380,000
Net Estate 4,120,000
less: 1/2 share of surviving spouse
Conjugal Property 6,300,000
Conjugal Deduction - 1,900,000
Net Conjugal Estate 4,400,000 - 2,200,000
Net Taxable Estate 1,920,000