Multiple Choice – Problems Part 1 1. A single decedent decedent died died with the following following data data regarding regarding his estate: Family home Agricultural land Cash and other personal properties otal otal
800,000 2,500,000 1,200,000 !,500,000
"tems of deductions: Funeral e#penses !00,000 $edical e#penses % unpaid 200,000 &udicial e#penses '00,000 Claim against the estate 500,000 (tandard deduction 1,000,000 otal otal 2,!00,000 Compute the net ta#a)le estate a. 2'00000 ). 2100000 c. 1500000 d. 1'00000 2. Assuming Assuming that the the estate ta# ta# in the preced preceding ing pro)lem pro)lem is *+5,000, compute the net distri)uta)le estate. a. '100000 b. 3005000 c. 2100000 d. 2005000 '. he following following data were were relates relates to the estate estate of a single resident resident decedent: ross estate including 1.5$ family home -,000,000 rdinary deductions 1,800,000 /hat is the net ta#a)le estate a. !200000 ). '200000 c. 2200000 d. 1200000 !. omeo omeo died leaing leaing his wife, wife, &uliet, &uliet, the following following net con3ugal con3ugal properties: ross estate, including 1.5$ family home 4ess: ordinary deductions otal otal Compute for the net ta#a)le estate: a. 5-00000 ). !-00000
8,000,000 2,!00,000 5,-00,000
c. 1050000 d. 800000 5. Capt. &erey $agiting, single Filipino, died in action leaing the following net estate to his mother: Family home 2,000,000 ther properties 8,000,000 otal properties 10,000,000 4ess: funeral e#penses 6'00,0007 &udicial e#penses 6200,0007 *aid medical e#penses 6-00,0007 Claims against the estate 61,500,0007 et estate 9,!00,000 Compute for the net ta#a)le estate. a. --00000 b. 5600000 c. 2800000 d. 1800000 -. Assuming that the estate ta# is *555,000, compute the net distri)uta)le estate of Capt. $agiting. a. 8000000 b. 7445000 c. -8!5000 d. -!05000 9. $r. , a non resident citi;en )achelor, had net estate of *1,800,000 after the following: Funeral e#penses &udicial e#penses Claims against the estate 4osses Compute the net ta#a)le estate. a. 1850000 b. 900000 c. 850000 d. 950000 8. $y. < died leaing the following properties and estate deductions: (eparate properties of $r. < (eparate properties of $rs. < Communal properties Funeral e#penses ther ordinary deductions to communal properties
250,000 150,000 -00,000 200,000
1,000,000 2,!00,000 2,-00,000 100,000 800,000
rdinary deductions % e#clusie of $r. < !00,000 rdinary deductions % e#clusie of $rs. < 500,000 Family home % e#clusie of $rs. < +00,000 Compute the ta#a)le net estate of $r. <. a. 410000 ). 510000 c. -00000 d. 1-00000 +. Assuming instead that $rs. < died, compute the her net ta#a)le estate. a. -00000 b. 800000 c. 1-00000 d. 1800000 10. A decedent had a net estate of *',950,000 after deducting all inde)tedness, ta#es, losses, 3udicial e#penses and *250,000 funeral e#penses. "ncluded in the estate was his family home worth *1,200,000. /hat is the net ta#a)le estate a. !000000 ). '000000 c. 2800000 d. 1800000
Multiple Choice – Problems Part 2 1. he following pertains to the estate of a citi;en decedent: (eparate properties of the decedent Common properties of the spouses
2,!00,000 5,-00,000
*ossi)le deductions Funeral e#penses 180,000 &udicial e#penses 120,000 )ligations 61=! of is separate property7 800,000 Family home % common property 1,200,000 /hat is the ta#a)le net estate a. 5'00000 ). '550000 c. 2950000 d. 2550000 2. Assuming a *100,000 estate ta#, compute the net distri)uta)le estate. a. !550000 b. 4450000 c. '+50000 d. '850000
'. A single non>resident alien decedent died with the following gross estates and deductions: angi)le properties in *? "ntangi)le properties in *? angi)le properties a)road otal gross estate
!,500,000 500,000 5,000,000 10,000,000
*ossi)le deductions Funeral e#penses 200,000 &udicial e#penses !00,000 $edical e#penses '00,000 )ligations 620@ *?7 500,000 4osses '00,000 ransfer for pu)lic use 6property in *?7 500,000 Compute the net ta#a)le estate. a. !!50000 ). !+50000 c. 4300000 d. '800000 !. Assuming that the reciprocity rule applies, compute the net ta#a)le estate. a. '0+0000 ). '!-0000 c. 3370000 d. ''00000 5. he following data pertains to the estate of a married non resident alien decedent: *hilippine properties (eparate properties of the suriing spouse (eparate properties of decedent Common properties otal foreign properties, e#cluding *5,00,000 separate properties of suriing spouse *ossi)le deductions Funeral e#penses &udicial e#penses $edical e#pense )ligations % common fund Family home % common property /hat is the ta#a)le net estate a. 3200000 ). 2800000
',000,000 1,800,000 ',200,000 10,000,000
180,000 120,000 500,000 +00,000 1,200,000
c. 2000000 d. 0 -. he following properties pertains to the estate of $r. (erano, a widower: Cash "nestment in stocs Car Agricultural land Family home
500,000 1,500,000 2,000,000 5,000,000 ',000,000
"tems of deductions Funeral e#penses '50,000 &udicial e#penses 200,000 Claim against the estate 2,000,000 Claim against insolent person 500,000 heft of cash 900,000 Compute the net ta#a)le estate. a. 7600000 ). 9100000 c. 5-00000 d. 5100000 9. $r. $ori, a resident &apanese citi;en, had the following *hilippines 5,000,000 1,-00,000
&apan ',000,000 1,200,000
otal 8,000,000 2,800,000
ross estate rdinary deductions Family home, *? 800,000 800,000 (tandard 1,000,000 deduction Compute the net ta#a)le estate in the *hilippines. a. 1-00000 ). 2-00000 c. 1975000 d. 1-25000 8. Compute the net ta#a)le estate a)road. a. 1800000 ). 800000 c. 1425000 d. 1995000 +. Assuming glo)al estate ta# of *28+,000, compute the estate ta# paya)le assuming the estate of $r. $ori paid *150,000 estate ta# a)road. a. 167875 ). 1-'-25
c. 1'+000 d. 5'-25 10. A single resident citi;en died leaing the following estate and deductions: Family home ther properties
*hilippines China 1,800,000 9,200,00 ',000,000
aiwan !,000,000
otal estate
+,000,000
',000,000 !,000,000
Funeral e#pense &udicial e#pense )ligations otal
250,000 '00,000 2,250,000 2,800,000
90,000 150,000 100,000 800,000 1,200,000 1,020,000 1,'00,000
otal 1,800,000 1!,200,00 0 1-,000,00 0 '20,000 550,000 !,250,000 !,250,000
Bstate )efore -,200,000 1,+80,000 2,900,000 10,880,00 standard 0 deduction Bstate ta# paid 220,000 250,000 !90,000 Compute the net ta#a)le estate in the *hilippines, China and aiwan, respectiely. a. 1065000 1818750 2450000 ). !-50000 18'0000 2520000 c. !850000 1890500 229+500 d. !950250 1825950 2!2!000 11. Compute the estate ta# due and paya)le in the *hilippines. a. 10-5000 ). +55000 c. 599781.25 d. 5+5000
Multiple Choice – Problems Part 3 1. A single resident alien decedent died with the following net estate: et estate in the *?, )efore standard deduction et estate a)road, )efore standard deduction et estate, world )efore standard deduction Compute the estate ta#. a. -15000 ). 585000 c. 465000
2,500,000 ',500,000 -,000,000
2.
'.
!.
5.
d. 1+0000 "n the immediately preceding pro)lem, compute the estate ta# assuming the decedent is a non resident alien. a. -15000 ). 585000 c. !-5000 d. 190000 A single resident alien without a family home had a net estate of *1,200,000 after allowa)le deduction of B4" items totaling *800,000. !0@ of the properties of the decedent were from the *hilippines. Compute the estate ta#. a. 0 ). 10000 c. 1!000 d. 91000 "n the immediately preceding pro)lem, compute the estate ta# assuming the decedent is a non resident alien. a. 0 ). 10000 c. 14000 d. 91000 A married citi;en died leaing the following net estate:
B#clusie properties of the decedent ',000,000 Common properties of the spouse 12,000,000 otal allowa)le deduction for B4" % common 1,800,000 ransfer for pu)lic use > e#clusie 200,000 Danishing deductions % e#clusie 500,000 $edical e#penses -00,000 he common properties includes a family home worth *1,500,000. Compute the net ta#a)le estate. a. 6900000 ). 5+00000 c. 5150000 d. !+00000 -. he heirs of the decedent )achelor want to determine their net distri)utie share in the net estate. Eetails of the estate of the decedent were as follows: ross estate 9,000,000 otal allowa)le deduction for B4" 1,800,000 ransfer for pu)lic use 200,000 Danishing deductions 500,000 $edical e#penses 620@ unpaid7 250,000 he total actual B4" was *2,100,000. Compute the net distri)uta)le estate assuming that the estate ta# was *2!0,000.
a. !910000 b. 4510000 c. !!10000 d. !2!0000 9. A resident citi;en died with arious properties a)road: a#a)le estate 2,000,000 2,500,000 1,500,000 ',000,000 +,000,000
Bstate ta# paid
et estate in *? et estate in aiwan 2!0,000 et estate in (ingapore 200,000 et estate in "ndonesia '00,000 otal net estate 9!0,000 Compute the estate ta# paya)le. a. 10-5000 ). '!9500 c. 325000 d. '+2500 8. A non resident alien died leaing a net ta#a)le estate of *!,000,000 in the *hilippines and *-,000,000 a)road. ?e paid *'00,000 estate ta# a)road including *90,000 attri)uta)le to properties situated in the *hilippines. Compute the estate ta# paya)le. a. +15000 ). -15000 c. 355000 d. 285000 +. $r. $asi)a died leaing the following properties. an deposit usiness interest Commercial )uilding Family home, inclusie of *2,000,000 lot
2,100,000 ',000,000 !,000,000 ',800,000
Additional information: 1. he commercial )uilding was purchased using donations receied )y $r. $asi)a during the marriage. he same )uilding sustained a *!00,000 Gre loss shortly after $r. $asi)a died. he lot where the family home stands was receied )y $rs. $asi)a as inheritance during the marriage. Funeral e#penses and 3udicial e#penses of *!00,000 and *200,000 was incurred )y the estate, respectiely. he commercial )uilding was mortgaged to a )an for *1,500,000. $r. and $rs. $asi)a paid *500,000 prior to $r. $asi)a death. here were *100,000 accrued interest at the death of $r. $asi)a. Compute the net ta#a)le estate.
a. ). c. d. 10.
9100000 9000000 3850000 '950000 he following related to the estate of a single decedent:
eceia)les representing proceeds of life insurance irreoca)ly designated to a )rother $otor ehicles "nestment in )onds (toc inestments 4and Funeral e#penses 61=2 paid )y friends7 4oss % motor ehicle )ligations 61=! accruing after death7 Compute the net ta#a)le estate. a. !150000 ). '+50000 c. 3150000 d. '550000
1,000,000 !00,000 -00,000 '00,000 !,000,000 '00,000 !00,000 800,000
