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The decedent had a P4M Phillipine gross estate and P6M foreign gross estate.
Compute the total deductions allowable
a. P 400,000 c. P 1,160,000
b. P 1,080,000 d. P 1,360,000
11. A Japanese citizen residing in Japan had the following properties and deductions:
Properties in the Philippines P 3,000,000
Properties in Japan 6,000,000
Properties in Hongkong 1,000,000
Total world estate P 10,000,000
Funeral and juridical expenses P 3,000,000
Medical expense 450,000
Transfer for public use of properties located in Japan 500,000
Compute the total deductions allowable.
a. P 900,000 c. P 1,535,000
b. P 1,035,000 d. P 1,850,000
12. A Chinese citizen residing in Quezon City, Philippines, died leaving several properties in the
Philippines. How much standard deduction can his estate claim?
a. 0 c. P 500,000
b. P 200,000 d. 1,000,000
13.
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Incurred more than 1 year P 150,000 P 10,000
before death
Incurred 6 months to 1 years 120,000 20,000
before death
Incurred within 6 months before 180,000 25,000
death
What is the deductible medical expense?
a. P 205,000
b. P 300,000
c. P 345,000
d. P 500,000
14. On November 1, 2010, Gwen died leaving the following properties:
Agricultural land inherited February 2, 2008 P 1,200,000
House and lot 200,000
Cash 2,800,000
Car 500,000
Other personal properties 1,000,000
Total properties P 7,500,000
Mortgage on the agricultural land P 500,000
Other indebtedness 1,200,000
Deductible expenses and losses 400,000
Total ordinary deductions P 2,100,000
Gwen paid P 300,000 in mortgage before her death. The prior estate paid the estate tax on the
agricultural land which was then valued at P 1,000,000.
Compute the vanishing deduction.
a. P 403,200 c. P 330,400
b. P 388,800 d. P 302,400
15. The following records indicate the medical history of Mr. Eckon, a non-resident Mexican, whod died
on November 2, 2014:
January 1, 2012 - confined for meningococcemia P 200,000
July 14, 2013 - confined for acute amoebiasis 10,000
February 14, 2014 - confined for veneral disease 20,000
October 31, 2014 - confined for severe injury from mauling 120,000
Compute for deductible medical expense.
a. P 0 c. P 150,000
b. P 120,000 d. P 350,000
16. Mr. Y, single died leaving properties he inherited 2 ½ years ago with a current fair market value of
P800, 000. The property was inherited when it was worth P 1,000,000 and had a P850, 000 unpaid
mortgage. Mr. Y paid P 550,000 until his death. Other properties of Mr. Y had a fair market value of P
1,200,000 at the time of his death.
The expenses, losses, taxes and transfer public purpose and P 140,000 medical expenses totaled P
300,000 .
How much was the vanishing deductions?
a. P 210,600 c. P 117,000
b. P 180,600 d. P 107,611
CHAPTER 15: SELF-TEST EXERCISES
Discussion Questions
1. Illustrate the computational format of the net tax estate.
2. Discuss the computational procedures of the limits for foreign taxes paid.
3. Discuss the computational procedure of the net tax used in the computation of the foreign tax credit.
4. Discuss the estate tax requirements, their deadlines and conditions for compliance.
Multiple Choice- Theory
1. The tax estate of the following includes all the properties wherever situated, except a
a. Resident citizen
b. Non-resident alien
c. Resident alien
d. Non-resident alien
2. Which of the following is normally deductible against common properties?
a. Medical expenses
b. Standard deductions
c. Funeral expenses
d. Vanishing deductions
3. Which is not considered in the computations of the share of the surviving spouse?
a. Medical expenses
b. Family home
c. Obligations
d. Standard deductions
4. which is included in the next taxable estate?

a. Family home in excess of P 100,000
b. Separate property of the surviving spouse
c. Medical expenses
d. Share of the surviving spouse
5. Which is excluded in the computation of the net taxable estate and in the computation of the net
distributable estate?
a. Share of the surviving spouse
b. Vanishing deductions
c. Estate Tax
d. Family home

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The decedent had a P4M Phillipine gross estate and P6M foreign gross estate.

Compute the total deductions allowable

Properties in the Philippines P 3,000,000

Properties in Japan 6,000,000

Properties in Hongkong 1,000,000

Total world estate P 10,000,000

Funeral and juridical expenses P 3,000,000

Medical expense 450,000

Transfer for public use of properties located in Japan 500,000

Compute the total deductions allowable.

What is the deductible medical expense?

14. On November 1, 2010, Gwen died leaving the following properties:

Agricultural land inherited February 2, 2008 P 1,200,000

House and lot 200,000

Other personal properties 1,000,000

Total properties P 7,500,000

Mortgage on the agricultural land P 500,000

Other indebtedness 1,200,000

Deductible expenses and losses 400,000

Total ordinary deductions P 2,100,000

Compute the vanishing deduction.

January 1, 2012 - confined for meningococcemia P 200,000

July 14, 2013 - confined for acute amoebiasis 10,000

February 14, 2014 - confined for veneral disease 20,000

Compute for deductible medical expense.

How much was the vanishing deductions?

1. Illustrate the computational format of the net tax estate.

Multiple Choice- Theory

2. Which of the following is normally deductible against common properties?

4. which is included in the next taxable estate?

b. Separate property of the surviving spouse

d. Share of the surviving spouse

a. Share of the surviving spouse

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