MARRIED DECEDENT: RC NRC RA

Common Properties Exclusive Properties

Real and Personal Properties
Retirement Benefits under RA 4917
Family home
Intangible Properties
Decedent's Interest
Transfer in contemplation of Death
Revocable Transfer
Transfer under General Power of Appointment
Proceeds of Life Insurance
Transfer for Insufficient Consideration
Receivable from a Debtor
Total Gross Estate - -

Less: Ordinary Deduction

Losses/Indebtedness/Taxes
Transfer for Public Use
Vanishing Deduction (ACoP)
Vanishing Deduction (CPG)
Net Estate before Special Deduction - -
Less: Special Deduction
Standard Deduction
Family Home
Amount Received under RA4917
Net Estate Before Share of Surviving Spouse

Less: 1/2 Share of the Surviving Spouse

Net Taxable Estate
Estate Tax Rate
Estate Tax Due
Total
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: If under Special Appointment, not included in the GE.
- Note: Determine the Beneficiary and if Revocable or Irrevocable, then apply the rules accordingly
- Note: Determine first the Property Relations, if ACoP or CPG, then determine accordingly. If the problem a
- Note: This is claim against Insolvent Person
-

- General Rule: Common Deduction, Exception: If the problem states that it is Exclusive Deduction
- General Rule: Exclusive Deduction, Exception: If the problem states that it is Common Deduction
- General Rule: Depends on the classification of the source of vanishing deduction. If the property is exclusiv
- General Rule: Always an exclusive deduction under CPG.
-

5,000,000.00 Note: If NRA, 500,000. If RC, NRC, RA, P10,000,000.

FMV of the Principal House or P10M whichever is lower. If the Family Home is a Common Property, FMV d
Retirement Benefits
(5,000,000.00)

-
(5,000,000.00)
6%
(300,000.00)
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time

e rules accordingly
ccordingly. If the problem already state the classification whether common or exclusive, it can save you time

clusive Deduction
ommon Deduction
on. If the property is exclusive, VD is exclusive deduction. If the property is common, then VD is common deduction.

a Common Property, FMV divided by 2 vs. 10M, get the lower amount
MARRIED DECEDENT: RA

Common Properties
PH Abroad
Real and Personal Properties, PH
Real and Personal Properties, Abroad
Total Gross Estate - -
PH Gross Estate
Less: Ordinary Deduction
Losses/Indebtedness/Taxes
Transfer for Public Use
Vanishing Deduction (ACoP)
Vanishing Deduction (CPG)
Net Estate before Special Deduction -
Less: Special Deduction
Standard Deduction
Net Estate Before Share of Surviving Spouse
Less: 1/2 Share of the Surviving Spouse
Net Taxable Estate
Estate Tax Rate
Estate Tax Due
 Exclusive Properties World Gross Estate
PH Abroad
- PH Gross Estate -
- Abroad Gross Estate -
- - - World Gross Estate -
-
Losses
- Claims Against Insolvent Person
- Claims Against the Estate
- Unpaid Mortgage
- Unpaid Taxes
- - Total LIT -

500,000.00 LIT Proportioned Amount for NRA #DIV/0!

(500,000.00)
-
(500,000.00)
6%
(30,000.00)
Checking-Should be 0 -

Indebtedness
Indebtedness
Indebtedness

General Rule for LIT: Common Deduction, Exception: If the problem states that it is Exclusive Deduction
SINGLE DECEDENT:

Total
Real and Personal Properties
Retirement Benefits under RA 4917
Family home
Intangible Properties
Decedent's Interest
Transfer in contemplation of Death
Revocable Transfer
Transfer under General Power of Appointment
Proceeds of Life Insurance
Transfer for Insufficient Consideration
Receivable from a Debtor
Total Gross Estate -

Less: Ordinary Deduction

Losses/Indebtedness/Taxes
Transfer for Public Use
Vanishing Deduction
Net Estate before Special Deduction -
Less: Special Deduction
Standard Deduction
Family Home
Amount Received under RA4917
Net Taxable Estate -
Estate Tax Rate 6%
Estate Tax Due -
Allowed Estate Tax Credit
Estate Tax Payable -
 -

5M for RC, NRC, RA. 500K for NRA

FMV of the Principal House or P10M whichever is lower.
Retirement Benefits provided in the GE above.
VANISHING DEDUCTION:

EQUATION 1
Value to Take 9,375,000.00
FMV from the First Owner 9,375,000.00
FMV from the Second Owner 11,250,000.00
Less: Mortgage Paid by Second Owner 1,875,000.00 (1,875,000.00)
Initial Basis 7,500,000.00

EQUATION 2
Initial Basis from Equation 1 7,500,000.00 7,500,000.00
Gross Estate of Present Decedent/Second Owner 45,000,000.00 45,000,000.00
Losses
Indebtedness 5,625,000.00
Taxes
Transfer for Public Use - 5,625,000.00
Total of LITT 5,625,000.00
Second Basis 937,500.00

EQUATION 3
Initial Basis from Equation 1 7,500,000.00
Second Basis from Equation 2 (937,500.00)
Final Basis 6,562,500.00
Percentage of Deduction 40%
Vanishing Deduction 2,625,000.00

2,625,000.00

Mortgage Beginning
Mortgage Ending
Mortgage Paid -
MORTGAGE MUST BE ASSUMED FROM THE FIRST OWNER BY THE SECOND OWNER.
IF MORTGAGE WAS ONLY ENTERED BY THE SECOND OWNER, NO NEED TO ENTER AMOUNT

Note: If Non-Resident Alien, only PH Gross Estate

Note: If Non-Resident Alien, use the Proportioned Amount for LIT
Note: If Non-Resident Alien, use the Proportioned Amount for LIT
Note: If Non-Resident Alien, use the Proportioned Amount for LIT

Input date of Death

Percentage of Deduction: Value from H26 Date of Death of the First Owner
0 - 1 year 0.01-1 100% Date of Death of the Second Owner
More than 1 to 2 years 1.01-2 80%
More than 2 to 3 years 2.01-3 60%
More than 3 to 4 years 3.01-4 40%
More than 4 years to 5 years 4.01-5 20%
More than 5 years 5.01 0%
MM/DD/YY
10/5/2017
12/10/2020
3.1835616438