Name: Adrian June M.

Loro
BSA- 3

PROBLEM 1
Citizen/ NRA with R NRA w/o R
Resident
Family home in the Philippines P8,000,000 P8,000,000 P8,000,000
Parcel land of with vacation house in 5,000,000
Malaysia
Farm land in the Philippines 3,000,000 3,000,000 3,000,000
Shares of stock of a domestic 2,000,000 2,000,000
corporation deposited in a bank
safety deposit box in Malaysia
Shares of stock of a foreign 500,000 500,000
corporation the entire business of
which is in the Philippines
Receivable from a friend who has no 300,000 300,000 300,000
property whatsoever
Receivables under insurance policies:
Life insurance policy, taken by the 200,000 200,000 200,000
decedent on his own life, with his
estate as revocable beneficiary
Life insurance policy, taken by the 300,000 300,000 300,000
decedent, with his daughter as
revocable beneficiary
Life insurance policy, taken by the - - -
decedent on his own life, with his son
as irrevocable beneficiary
Life insurance (group) taken by the - - -
employer of the decedent, with the
estate as revocable
beneficiary
Property insurance, for a loss of 50,000 50,000 50,000
property
Accident insurance, for injury 50,000 50,000 50,000
sustained
TOTAL GROSS ESTATE P19,300,000 P11,800,000 P14,300,000

PROBLEM 2
To Juan 1,000*25,000 25,000,000
To Pedro 1,000*18000 18,000,000
To Maria 1,000*20,000 20,000,000
Total Gross Estate 63,000,000
PROBLEM 3

PROBLEM 4
1. P230,0000 Determined by the BIR
2. P1,100,000
3. P0
4. P5,000,000 1,000,000 + [1M x (1M x 10% x 1.5)]

PROBLEM 5
1. Included
2. Included
3. Excluded
4. Included
5. Excluded
6. Excluded
7. Included
8. Excluded
9. Excluded
10. Excluded