DONORS TAX: THEORY

1. For the donation to be considered valid, accetance o! the donation "#st be "ade.
a. d#rin$ the li!eti"e o! the donor onl%.
b. d#rin$ the li!eti"e o! the donee onl%
c. d#rin$ the li!eti"e o! the donor and the donee
d. none o! the choices
&. First statement: Donors ta' shall be levied, assessed collected and aid #on the
trans!er o! roert% b% an% erson , resident or non(resident as a $i!t.
Second statement: For the #rose o! donor)s ta', a stran$er is a erson *ho is
not a relative b% consan$#init% in the collateral line *ithin the !i!th de$ree o!
relationshi.
a. Tr#e, Tr#e
b. False, False
c. Tr#e, False
d. False Tr#e
+. One o! the !ollo*in$ donees *ill not entitle the donor(arent to a ,1-,--- do*r%
e'e"tion.
a. .e$iti"ate /hild
b. Reco$ni0e Nat#ral /hild
c. Adoted /hild
d. Stechild
1. 2hich o! the !ollo*in$ state"ent is incorrect3
a. A searate ret#rn shall be !iled b% each donor !or each $i!t or donation "ade
on di!!erent dates d#rin$ the %ear re!lectin$ therein an% revio#s net $i!t "ade
in the sa"e calendar %ear.
b. Onl% one ret#rn shall be !iled !or several $i!t or donations b% a donor to the
di!!erent donees on the sa"e date.
c. 2hen a donors ta' ret#rn *as !iled and it *as !o#nd o#t b% the 45R to have
errors *hich $ave rise to a de!icienc% donors ta', the donor cannot be re6#ired
to a% the de!icienc%.
d. The $overn"ent is not le$all% bo#nd b% the a$ree"ent bet*een the donor and
the donee that the later shall a% the donors ta' instead o! the !or"er.
7. First statement: 5n all cases, void donations are not s#b8ect to donors ta'.
Second statement: Ever% donation bet*een the so#ses d#rin$ the "arria$e shall
be void.
a. both state"ents are tr#e
b. both state"ents are !alse
c. First state"ent is tr#e *hile second state"ent is !alse
d. First state"ent is !alse *hile the second state"ent is tr#e
9. :r. ;ohn Sa"#elson, resident alien, donated a iece o! 8e*elr% to his son *ho $ot
"arried on ;an#ar% 17, &--<. The iece o! 8e*elr% *as "ailed to his son on
;an#ar% 1-, &--< and *as acceted on ;an#ar% &-, &--<. 2hen is the last da% to
!ile the donors ta' ret#rn3
a. Febr#ar% <, &--<
b. Febr#ar% 11, &--<
c. Febr#ar% 1<, &--<
d. :arch &-, &--<
=. 2hen a roert% is donated in conte"lation o! death the basis o! the ta' shall be:
a. Fair "ar>et val#e at the ti"e o! death
b. Fair "ar>et val#e in the hands o! the donor be!ore the ti"e o! donation
c. Fair "ar>et val#e at the ti"e o! death o! the donor
d. /ost *hen the roert% *as ac6#ired
?. 2hich o! the !ollo*in$ is a stran$er !or donor)s ta' #rosed3
a. A child born o#t o! *edloc> o! arents *ho are le$all% i"eded to "arr%
each other at the ti"e the child is bein$ conceived.
b. The son o! the donor)s !irst co#sin
c. The donor)s $rand"other
d. The donor)s so#s
<. 2hen the donee is a stran$er the ta' a%able is:
a. +-@ o! the $ross $i!ts
b. +-@ o! the net $i!ts
c. based on the $rad#ated ta' rates
d. based on the $rad#ated ta' rates or +-@ o! $ross $i!ts *hichever is hi$her
1-. First state"ent: A donation on *hich the donor)s ta' is net aid is a valid donation
Second state"ent: Title to a ta' Ae'e"t donation o! a real roert% cannot be
trans!erred to the donee in the Re$ister o! Deeds #nless the donor)s ta' on the
donation had been aid
a. Tr#e, Tr#e
b. False, False
c. Tr#e, False
d. False, Tr#e
11. The donation o! ersonal B"ovableC roert% "a% be "ade:
5. Orall% o! the val#e is ,7,--- or less re6#irin$ si"#ltaneo#s deliver%.
55. 5n 2ritin$ i! the val#e is "ore than , 7,---
a. 4oth 5 and 55 are correct
b. 4oth 5 and 55 are incorrect
c. Onl% 5 is correct
d. Onl% 55 is correct
1&. The donation o! "ovable roert% "a% be "ade:
a. Orall%
b. 2ritin$
c. Either A or 4
d. Neither A or 4
1+. Dsin$ the recedin$ n#"ber, the donation and accetance sho#ld be in *ritin$ i!
the val#e o! the roert% donated is:
a. .ess than , 7,---
b. ,7,--- or less
c. ,7,--- or "ore
d. :ore than 7---
11. The donation o! an i""ovable roert% shall be "ade
a. 5n *ritin$
b. 5n #blic instr#"ents
c. Either A or 4
d. Orall%
17. Dsin$ the recedin$ n#"ber, accetance b% the donee "a% be "ade:
a. 5n sa"e deed o! donation
b. 5n a searate doc#"ent
c. Either A or 4
d. Neither A or 4
19. A. For the #rose o! donor)s ta', second de$ree co#sins are stran$ers to each
other.
4. Enc#"brance o! the roert% donated, i! ass#"ed b% the donor is ded#ctible
!or the donors ta' #roses.
a. Tr#e, Tr#e
b. Tr#e, False
c. False, Tr#e
d. False, False
1=. A. As a r#le, donation bet*een h#sband and *i!e d#rin$ "arria$e is void
4. Donation can be "ade to conceived or #nborn children
a. Tr#e, Tr#e
b. Tr#e, False
c. False, Tr#e
d. False, False
1?. A donation *hich ta>es #on the death o! the donor
a. Donation "ortis ca#sa
b. ,arta>es o! the nat#re o! a testa"entar% disosition
c. Shall be $overned b% the la* on s#ccession
d. A, 4 and /
1<. A donation *hich is intended b% the donor to ta>e e!!ect d#rin$ his li!eti"e
a. Shall be s#b8ect to donor)s ta' #sin$ the ta' table !or donation
b. Shall be in *ritin$ i! the val#e e'ceeds , 7,---
c. Donation inter vivos
d. A, 4 and /
&-. A. $i!t is er!ected !ro" the "o"ent the donor e!!ects the deliver% either act#al or
constr#ctivel% o! the roert% donated.
4. Donors ta' is a roert% ta' i"osed on the roert% trans!erred b% *a% o! $i!t
inter(vivos
a. Tr#e, Tr#e b. Tr#e, False c. False, Tr#e d. False, False
ANS2ER EEY
1. /
&. /
+. D
1. /
7. /
9. /
=. /
?. 4
< 4
1-. /
11. A
1&. /
1+. D
11. 4
17. /
19. 4
1=. A
1?. D
1<. /
&-. D