Nilson Tan Chan resident of Unit 11-D, Tower 4, Manhattan Parkview Residences, Araneta

Center, Cubao, Quezon City died in a car accident. He died October 10, 2018. His TIN was 567-
987-312 while the TIN of estate for ONETT is 890-437-098. Executor of estate is his son Manny
Ang Chan with TIN 912-650-215 ang contact number 0999-5677531. Email address
chanmaniyang@gmail.co
Exclusive properties:
Car (Plate No. EFA 6753) P1,200,000
Residential land in Madulas St., Bgy Fairview, Quezon City, 231 sq
meters, TCT 18-9098876 (FMV, Tax Declaration No. 16-90765– P4.5
M; zonal value - 6,000,000
Community properties -
Receivable as prize in a raffle contest sponsored by PICPA 50,000
Receivable from an insurance company where his son, Gino was
designated in the policy as the revocable beneficiary 150,000
Condominium unit in Cubao, family home, 50 sq m, CCT No. 2013-
431567 (FMV, per Tax Dec No. 13-84317– P3,800,000; zonal value,
P80,000 per sq m)
Savings deposit (MBTC, Acct #509-007-9087652) 800,000
Other personal properties 1,500,000
The following deductions were claimed:
Funeral expenses 195,000
Judicial expenses 15,000
Claims against the estate, not notarized 50,000
Claims against insolvent persons 30,000
Unpaid mortgage on land (contracted before marriage) 200,000
Unpaid mortgage on Condo unit 350,000
Accrued income taxes 35,000
Income tax on income earned from Oct 11 to Dec 31(year of death) 7,500
1. The gross estate is –
A. P 7,200,000 C. P13,700,000 E. None of the above
B. 6,500,000 D. 13,730,000
2. The deductible family home is -
A. P4,000,000 C. P1,000,000 E. None of the above
B. 2,000,000 D. 8,000,000
3. The net taxable estate is -
A. P3,057,500 C. E. None of the above
B. 6,115,000 D. None
4. The estate tax due is -
A. P 183,450 C. P 3,057,500 E. None of the above
B. 135,450 D. 251,325

5. The estate tax due if the bank deposit was withdrawn prior to the filing of the estate tax return
A. P 183,450 C. P 3,057,500 E. None of the above
B. 135,450 D. 159,450
6. How much is the final withholding tax if the bank deposit is withdrawn by the relatives prior to
filing of estate tax return??
A. P 183,450 C. P 48,000 E. None of the above
B. 135,450 D. 159,450
PREPARE ESTATE TAX RETURN USING BIR FORM NO. 1801