Quiz Donor S Tax ACT 193

6/18/2021 Quiz - Donor's Tax - ACT 193
Quiz - Donor's Tax - ACT 193

3rd Semester 2020 - 2021
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1. Chris made the following donation during 2020:
April:
• To his son Reden who is living in Singapore, a land located also in Singapore valued at P
500,000 on account of marriage on Feb. 4, 2020.
• To Princess, his daughter, a farm located in Batangas valued at P 600,000 with unpaid
mortgage of P 100,000 which Princess assumed.
October:
• To his son Reden, also on account of marriage, shares of stock of a nonresident foreign
corporation valued at P 400,000.
• To City of Makati, of land located in Makati valued at P 1,000,000. The land will be used for
school site.
All properties donated come from the exclusive properties of Chris.
How much is the tax due on April donation? *

(1 Point)
P 51,000
P 66,000
P 60,000
P 45,000
2. For the donation to be valid, acceptance of the donation must be made *

(1 Point)
During the lifetime of the donor only
During the lifetime of the donor and the donee
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During the lifetime of the donee
None of the above
3. Professor X, a renowed Filipino scientist made the following donations during 2018:
Feb. 29: cash of P 500,000 to Brgy. Malanday.
April 1: Car to his brother on account of marriage. The car has a FMV of P 1,000,000 and is
subject to
mortgage of P 500,000 to be assumed by his brother.
May 31: A land worth P 5,000,000 located in Belgium to his son.
How much is the donor's tax payable on April 1? *

(1 Point)
P 15,000
P 300,000
P0
P 315,000
4. Chris sold his vacant lot located in Bulacan to his friend on Feb. 5, 2020. The selling price of the
property is P 3,000,000 with FMV at the time of sale of P 3,200,000 and P 3,500,000 at the time of
death of Chris. Chris acquired the property 5 years ago amounted to P 1,500,000. How much is the
donor’s tax of Chris? *
(1 Point)
P 192,000
P 15,000
P 195,000
Zero
5. On February 14, 2018, Clifford donated a property located in Manila and cash as follows:
a. Land with a FMV of P 680,000: to a legitimate daughter on account of marriage, subject to a

mortgage of P 80,000 assumed by the daughter.
b. Cash of P 150,000: To a legitimate son, on account of marriage.
What is the correct amount of net gifts made? *

(1 Point)
P 730,000
P 740,000
P 700,000
P 750,000
6. Chris had a lot of properties but no family to lean on. He felt lonely and sad, so he decided to
donate almost of his properties to all his close friends and relatives. One night, Chris was drunk
and while driving he met an accident. In the hospital, he met a person who introduced himself as
his son from a woman he met somewhere in Batangas. Can the property donated by Chris be
returned to him? Which of the following statement is false? *
(1 Point)
No answer in the choices.
Chris cannot donate when no properties left for his living.
Chris cannot revoke the donation because it was already donated.
Chris can revoke the property within 4 years from the time he discovered that he has son.
7. Chris and Christina, husband and wife agreed to donate land located in Japan to their beloved son
who graduated cumlaude from Harvard University on March 20, 2020, with value of 5,000,000.
The Deed of donation (signed and accepted by the son) was executed on Feb. 25,2020 with a
value of P 5,500,000. How much is the donor’s tax of Mr. Chris? *
(1 Point)
P 150,000
P 315,000
P 285,000
P 135,000
8. In 2018, Mr. Lester made the following donations:
June 1, 2018: To his bestfriend, Mr. Matin - P 1,500,000 on account of marriage celebrated on
May 1, 2017.
July 10, 2018: To Mr. Barrera, his mentor - a parcel of land worth P 1,800,000 subject to the
condition that Mr. Barrera would assume the mortgage indebtedness of Lester in the amount of P
40,000.
Sept. 30, 2018: P 1,500,000 dowry to his daughter on account of her scheduled marriage on
December 25, 2018 and another wedding gift worth P 200,000 on Dec. 31, 2018.
how much is the total net taxable gift for the year? *
(1 Point)
P 4,710,000
P 4,790,000
P 4,960,000
P 4,750,000
9. Donation between person guilty of adultery or concu

concubinage are voidable. *
(1 Point)
True
False
10. Chris donated the following properties:
Land, located in US P 1,500,000, tax paid in US P 90,000
Land, located in the Philippines P 3,500,000
The land in the Philippines, part of it was donated to government for public purposes. The amount
of donation is P 500,000.
How much is the donor’s tax payable of Chris? *

(1 Point)
P 199,500
P 200,000
P 165,000
P 170,000
11. Chris sold his vacant lot located in Bulacan to his friend on Feb. 5, 2020. The selling price of the
property is P 3,000,000 with FMV at the time of sale of P 3,200,000 and P 3,500,000 at the time of
death of Chris. Chris acquired the property 5 years ago amounted to P 1,500,000. How much is the
applicable tax of Chris? *
(1 Point)
P 195,000
Zero
P 15,000
P 192,000
12. A donation of husband to his wife during the marriage shall be governed by *
(1 Point)
Donation mortis causa
Donation inter vivos
None of the choices
Donation by reason of marriage
13. When a property is donated, the basis of the donor's tax is *

(1 Point)
the cost of acquisition if acquired by purchase or the fair market value at acquisition date,
whichever is higher
the agreed value by the donor and the donee
The fair market value at the time of donation
Any of the above
14. Chris made the following donation during 2020:
April:
• To his son Reden who is living in Singapore, a land located also in Singapore valued at P
500,000 on account of marriage on Feb. 4, 2020.
• To Princess, his daughter, a farm located in Batangas valued at P 600,000 with unpaid
mortgage of P 100,000 which Princess assumed.
October:
• To his son Reden, also on account of marriage, shares of stock of a nonresident foreign
corporation valued at P 400,000.
• To City of Makati, of land located in Makati valued at P 1,000,000. The land will be used for
school site.
All properties donated come from the exclusive properties of Chris.
How much is the donor’s tax payable on October donation? *

(1 Point)
P 75,000
P 15,000
P 9,000
P 24,000
15. The reciprocity clause in the donor's tax law applies to: *
(1 Point)
Mrs. Pedro, a Filipino citizen residing in Malaysia
Chrispa, a Korean citizen residing in the Philippines
Mr. GI Joe, a non-resident American
Juan dela Cruz, a non-resident citizen
16. Donor's tax is imposed to all natural and artificial persons *

(1 Point)
True
False
17. Which of the following is not a deduction from the gross gift? *
(1 Point)
Unpaid real estate tax on donated property assumed by the donee
Unpaid donor's tax on the property assumed by the donee.
Diminution on the property donated specifically provided by the donor
Unpaid mortgage on the donated property assumed by the donee
18. Since a donation to a charitable institution has a deduction without any ceiling.
Statement 1: The net gift will be zero, so that in computing the donor's tax. the donation may be
omitted in gross gifts as it is likewise omitted in the deductions.
Statement 2: The gross gifts should be reported and the deduction shall be claimed. *
(1 Point)
Statement 1 and 2 are false
Statement 1 is false and statement 2 is true
Statements 1 and 2 are true
Statement 1 is true and statement 2 is false
19. ABC Corporation donated P 100,000 to the barangay for the purpose of cementing a barangay
road where its factory is located.
Statement 1: The donation is exempt from donor's tax
Statement 2: The corporation may claim full deduction for income tax purposes. *
(1 Point)
Statements 1 and 2 are true
20. Minors can be a donor or a donee *

(1 Point)
True
False
21. As a general rule, all persons who may contract to dispose of their property may donate. *
(1 Point)
False
True
22. Chris donated his rest house in Pangasinan worth P 1,500,000 to his wife during the marriage. The
said property has unpaid mortgage of P 100,000. How much is the donor’s tax to be paid by
Chris? *
(1 Point)
P 90,000
P 75,000
P0
P 84,000
23. On February 2018, Mr. and Mrs. Giver donated a conjugal parcel of land to their son who was
getting married within six (6) months after the date of donation. The fair market value of the
property at the time of donation was P 5,000,000. Its fair market value at the time of marriage was
P 5,500,000. The donated property was subject to P 1M mortgage which was not assumed by the
donee. How much is the net taxable gift of Mr. Giver? *
(1 Point)
P 2,740,000
P 2,500,000
P 2,490,000
P 2,250,000
24. A donor gave the following donation during 2018:
Jan. 24 - Land located in the Philippines valued at P 2M to her uncle subject to the condition
that
the latter will pay the donor's tax due and unpaid mortgage amounting to P 500,000.
Nov. 30 - Building in US valued at P 4,500,000 to her sister. Donor's tax paid in US was P
400,000.
The donor's tax payable on the Jan. 24 donation shall be: *

(1 Point)
P 75,000
P0
P 90,000
P 120,000
25. Based on the preceding number, donor's tax payable on the Nov. 30 donation shall be: *
(1 Point)
P0
P 11,250
P 248,750
P 345,000
26. For questions 26 - 28:
Mr. and Mrs. de Guzman, resident citizens, made the following donations out of their conjugal
properties:
Date Amount Donee
Mar. 1, 2018 P 500,000 Adel, legitimate daughter
May 1, 2018 P 400,000 Belle, legitimate daughter, on account of marriage on

6/1/18
July 1, 2018 P 200,000 Cindy, legitimate daughter
How much is the donor's tax payable of Mr. de Guzman on his first donation? *
(1 Point)
P 30,000
P0
P 15,000
P 60,000
27. How much is the donor's tax of Mrs. de Guzman from the second donation? *
(1 Point)
P0
P 24,000
P 12,000
P 27,000
28. How much was the total donor's tax of Mr. and Mrs. de Guzman on all donations *
(1 Point)
P 66,000
P 65,400
P 33,000
P 36,000
29. On June 1, 2018, Pedro, a resident citizen, donated a parcel of land to a relative in Makati and a
real property located in Canada to a friend. In taking a credit for the foreign donor's tax paid, the
credit shall be against the Philippine donor's tax on the *
(1 Point)
Donation to a friend
None of the above
Donation to a relative
Donation to the relative and to a friend
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30. Professor X, a renowed Filipino scientist made the following donations during 2018:
Feb. 29: cash of P 500,000 to Brgy. Malanday.
April 1: Car to his brother on account of marriage. The car has a FMV of P 1,000,000 and is
subject to
mortgage of P 500,000 to be assumed by his brother.
May 31: A land worth P 5,000,000 located in Belgium to his son.
How much is the donor's tax payable on May 31? *

(1 Point)
P 300,000
P 450,000
P 330,000
P 464,000
31. When a husband and wife make a donation to their legitimate child on account of marriage
during 2018 taxable year, which of the following statement is correct? *
(1 Point)
Either of them can waive his/her right to claim dowry as deduction in favor of the other donor
such that one of them may claim a total deduction of P 20,000
None of the above
There can only be deduction for dowry if the donation was made before or one year after the
celebration of marriage
Each of them is entitled for dowry as a deduction from the gross gift
32. All of the following are subject to donor's tax in case there is a transfer for less than the adequate
and full consideration, except: *
(1 Point)
Tangible property
Intangible property
Real property classified as capital asset
Personal property
33. Which of the following constitutes a taxable gift? *

(1 Point)
Creditor's gratuitous discharge of a debtor's obligation
One day rent free use of another's company
An agreement to make a future transfer which is not supported by a consideration
A gratuitous transfer by an incompetent
34. Mr. Chris donated his land worth P 1M to his best friend through private instrument. What is the
status of donation? *
(1 Point)
Unenforceable
Void
Voidable
Valid
35. Statement 1: When the donee is tax exempt, the donation of a taxable individual is also tax
exempt.
Statement 2: Donor's tax shall be paid within 30 days after the donation is made. *
(1 Point)
Statement 1 and 2 are true
36. A person making a donation is required to file a tax return to BIR at *

(1 Point)
The residence of the donee at the end of the month when the donation is made
The residence of the donor at the end of the year
the residence of the donee within 30 days from the date of the donation
The residence of the donor within 30 days from the date of donation
37. Which of the following donation is required to be in a public document? *

(1 Point)
Donation of personal property
Donations required to be in writing
Donation of real property
Donation of personal property worth more than P 5,000
38. A donation on which the donor's tax is not paid is a valid donation. *
(1 Point)
False
True
39. On February 5, 2020, Chris wrote a letter to Manuel donating his laptop worth P 75,000. The letter
was received by Manuel on February 10, 2020 who immediately accepted the donation. The letter
of acceptance was received by Chris on February 14, 2020. The donor’s tax was paid until
February 25, 2020. The donation was perfected on: *
(1 Point)
February 14
February 5
February 25
February 10
40. When the donee is a stranger, the tax payable by the donor for donation in 2018 shall be: *
(1 Point)
6% based on total gift in excess of 250,000
6% based on net gift
6% of net gift in excess of P 250,000
30% of net gifts
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Quiz Donor S Tax ACT 193

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6/18/2021 Quiz - Donor's Tax - ACT 193

Quiz - Donor's Tax - ACT 193

1. Chris made the following donation during 2020:

All properties donated come from the exclusive properties of Chris.

How much is the tax due on April donation? *

2. For the donation to be valid, acceptance of the donation must be made *

During the lifetime of the donor only

During the lifetime of the donor and the donee

During the lifetime of the donee

None of the above

Feb. 29: cash of P 500,000 to Brgy. Malanday.

mortgage of P 500,000 to be assumed by his brother.

May 31: A land worth P 5,000,000 located in Belgium to his son.

How much is the donor's tax payable on April 1? *

a. Land with a FMV of P 680,000: to a legitimate daughter on account of marriage, subject to a

b. Cash of P 150,000: To a legitimate son, on account of marriage.

What is the correct amount of net gifts made? *

No answer in the choices.

Chris cannot donate when no properties left for his living.

Chris cannot revoke the donation because it was already donated.

8. In 2018, Mr. Lester made the following donations:

9. Donation between person guilty of adultery or concu

10. Chris donated the following properties:

Land, located in US P 1,500,000, tax paid in US P 90,000

Land, located in the Philippines P 3,500,000

How much is the donor’s tax payable of Chris? *

Donation mortis causa

Donation inter vivos

None of the choices

Donation by reason of marriage

13. When a property is donated, the basis of the donor's tax is *

the agreed value by the donor and the donee

The fair market value at the time of donation

Any of the above

14. Chris made the following donation during 2020:

All properties donated come from the exclusive properties of Chris.

How much is the donor’s tax payable on October donation? *

Mrs. Pedro, a Filipino citizen residing in Malaysia

Chrispa, a Korean citizen residing in the Philippines

Mr. GI Joe, a non-resident American

Juan dela Cruz, a non-resident citizen

16. Donor's tax is imposed to all natural and artificial persons *

Unpaid real estate tax on donated property assumed by the donee

Unpaid donor's tax on the property assumed by the donee.

Diminution on the property donated specifically provided by the donor

Unpaid mortgage on the donated property assumed by the donee

Statement 1 and 2 are false

Statement 1 is false and statement 2 is true

Statements 1 and 2 are true

Statement 1 is true and statement 2 is false

Statement 1: The donation is exempt from donor's tax

Statements 1 and 2 are true

Statement 1 is true and statement 2 is false

Statement 1 and 2 are false

Statement 1 is false and statement 2 is true

20. Minors can be a donor or a donee *

24. A donor gave the following donation during 2018:

The donor's tax payable on the Jan. 24 donation shall be: *

26. For questions 26 - 28:

Date Amount Donee

Mar. 1, 2018 P 500,000 Adel, legitimate daughter

May 1, 2018 P 400,000 Belle, legitimate daughter, on account of marriage on