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Exercise - Estate Tax 2 PDF
Exercise - Estate Tax 2 PDF
A. Multiple Choices
Questions 1-4 are based on the following information. A decedent left the following properties:
Land in Italy (with 1M unpaid mortgage) 2,000,000
Land in Davao City, Phil. (zonal value 750,000) 500,000
Franchise in USA 100,000
Receivable from debtor in Phil. 50,000
Receivable from debtor in USA 100,000
Bank deposit in Phils. 20,000
Bank deposit in USA 80,000
Shares of stock of PLDT, Phils. 75,000
Shares of stocks of ABC, Foreign Corp. 125,000
75% of the business in the Philippines
Other personal properties 300,000
B. Classification.
9. The decedent was married at the time of death. He was survived by his wife and children. The
following were presented to you and you are asked to compute the exclusive and conjugal
properties under Conjugal Partnership of Gains (CPG) and exclusive and community
properties under Absolute Community of Properties (ACP).