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Problem 8 & 9 Estate Tax: Married Decedents: Caraig Dela Cruz Tan
Problem 8 & 9 Estate Tax: Married Decedents: Caraig Dela Cruz Tan
Problem 8 & 9 Estate Tax: Married Decedents: Caraig Dela Cruz Tan
Mrs. Paraluman, married, under the system of absolute community of property during the marriage, a
citizen and resident of the Philippines, died on August 6, 20A1. She left the following properties and
related charges:
The land had a fair market value of P5,600,000 when inherited two and one-half years before Mrs.
Paraluman died, and had a mortgage of P600,000 at that time. She paid the mortgage indebtedness in full
before she died. The lot and house received as gift had a fair market value of P4,500,000 when it was
received ten months before August 6, 20A1.
Mrs. Trinidad, a citizen and resident of the Philippines died leaving the following properties in and outside
the Philippines, and related charges:
PHILIPPINES AUSTRALIA
Exclusive properties P30,000,000 P10,000,000
Conjugal properties (including family home of P5,880,000) 10,000,000 30,000,000
Funeral expenses 800,000 200,000
Medical expenses 1,000,000 500,000
Claims against the estate and unpaid mortgages, conjugal 1,000,000 200,000
Claims against the estate and unpaid mortgages, exclusive 6,375,000 625,000
Estate tax paid 1,000,000
Required. Determine the net taxable estate and estate tax still due after credit.
Problem 9 – Net taxable estate, estate tax credits, estate tax
Problem 9 – Net taxable estate, estate tax credits, estate tax
Problem 9 – Net taxable estate, estate tax credits, estate tax