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Problem #3 Exclusive Conjugal Total

Conjugal Properties
Personal Preporties 1,300,000.00
Apartmet & Lot 1,000,000.00 2300000
Exclusive Properties
Land 100,000.00
Jeep 20,000.00
San Miguel Shares 300,000.00 420,000.00
Gross estate 420,000.00 2,300,000.00 2,720,000.00
Less:Conjugal deductions
Funeral Expenses (50,000.00) (50,000.00)
Unpaid mortgage (A&L) (70,000.00) (70,000.00)
Total Conjugal deductions (120,000.00) (120,000.00)
Net Conjugal estate 2,180,000.00
Exclusve deductons:
Vanishing deductions (30,588.00) (30,588.00)
Special deductions:
Standard Deductions (1,000,000.00)
Total deductions (1,150,588.00)
Net estate 1,569,412.00
Less: 1/2 share of SS
Conjugal Property 2,300,000.00
Conjugal deductions (120,000.00)
Net Conjugal Estate 2,180,000.00
/2 (1,090,000.00)
Net Taxable Estate 479,412.00

Vanishing deductions
Value taken of PPT (50,000+20,000) P70,000
Less: Mortgage paid (30,000)
Initial basis 40,000

40,000 x120,000 = 1,765


2,720,000 38,235 x 80% = 30,588
Problem #3 (2) Exclusive Conjugal Total
Conjugal Properties
Personal Preporties 1,300,000.00
Apartmet & Lot 1,000,000.00 2300000
Exclusive Properties
Land 100,000.00
Jeep 20,000.00
San Miguel Shares 300,000.00 420,000.00
Gross estate 420,000.00 2,300,000.00 2,720,000.00
Less:Conjugal deductions
Funeral Expenses (50,000.00) (50,000.00)
Unpaid mortgage (A&L) (70,000.00) (70,000.00)
Total Conjugal deductions (120,000.00) (120,000.00)
Net Conjugal estate 2,180,000.00
Exclusve deductons:
Unpaid Mortgage (land) (10,000.00) (10,000.00)
Vanishing deductions (38,088.00) (38,088.00)
Special deductions:
Standard Deductions (1,000,000.00)
Total deductions (1,168,088.00)
Net estate 1,551,912.00
Less: 1/2 share of SS

Conjugal Property 2,300,000.00

Conjugal deductions (120,000.00)

Net Conjugal Estate 2,180,000.00


/2 (1,090,000.00)
Net Taxable Estate 461,912.00

Vanishing deductions
Value taken of PPT (50,000+20,000) P70,000
Less: Mortgage paid (20,000)
Initial basis 50,000

50,000 x130,000 = 2,390 2,390


2,720,000 47,610 x 80% = 38,088

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