Gallardo, John Mitchell.

LOCO LATINO, single, Filipino  donated the following properties :

PROPERTY DONATED DONEE

  Land in Manila   Butch
  Jewelries in Japan   Sally
  PLDT shares   Linda
  Building in Italy mortgage for P50,000 assumed by the donee   Marie
  Land in Davao   Aster
  Cash in BPI New York   Dutz
  Receivable (50% condoned)   Fe

LATINO also transferred the following properties:

PROPERTY SELLING PRICE

Car in Manila 300,000.00
Car in Singapore 400,000.00
Rest House in Baguio 1,200,000.00
Rest House in Singapore 2,500,000.00

INSTRUCTIONS:
1.  What is the amount of gross gift ?
2. Assuming LATINO is a non-resident Alien, what will be the amount of his gross gift ?
3. Assuming LATINO is a non-resident Alien, and there is reciprocity law, what is the amount of his gross gift ?

CITIZEN DECENDENT

Butch, Land in Manila 450,000.00

SALLY, Jewelries in Japan 150,000.00
LINDA, PLDT shares 250,000.00
MARIE, Building in Italy 1,800,000.00
ASTER, Land in Davao 350,000.00
DUTZ, Cash in BPI New York 400,000.00
FE, Receivable 125,000.00
Car in Manila 100,000.00
Car in Singapore -
Rest House in Baguio 1,300,000.00
Rest House in Singapore 1,000,000.00
GROSS GIFT 5,925,000.00

I affirm that I shall not give or receive any unauthorized help on this assignment and that all work
 VALUE
450,000.00
150,000.00
250,000.00
1,800,000.00
350,000.00
400,000.00
250,000.00

FMV
400,000.00
300,000.00
2,500,000.00
3,500,000.00

his gross gift ?

NON-RESIDENT ALIEN W/O NON-RESIDENT ALIEN W/

RECEIPROCITY RECEIPROCITY

450,000.00 450,000.00
-
250,000.00
-
350,000.00 350,000.00
-
125,000.00
100,000.00 100,000.00
-
1,300,000.00 1,300,000.00
-
2,575,000.00 2,200,000.00

assignment and that all work shall be my own.