A nonresident alien, married, died on September 2018. He left the following: Conjugal properties, Philippines, 5,000,000 Exclusive properties, Philippines, 2,000,000 Conjugal properties, USA, 10,000,000 Exclusive properties, USA, 5,000,000 The following deductions were claimed: Actual funeral expenses, 1,250,000 Judicial expenses, 800,000 Claims against the estate, 1,725,000 Transfer for Public Use, 200,000 Medical expense, 875,000 Included in the Philippines gross estate (conjugal) were the following: Domestic shares, 500,000 Share in a partnership, 1,000,000 Other tangible personal properties, 3,500,000 The Philippine exclusive properties were all tangible personal properties. These included a car, which was inherited 3 1⁄2 years before the present decedent’s death, and had a fair market value of 500,000. Required Determine the following: 1. Exclusive Property of the Decedent 2. Community Property 3. Taxable Net Estate 4. Estate Tax Due
A nonresident alien, married, died on September 2018. He left the following:
Conjugal properties, Philippines, 5,000,000
Exclusive properties, Philippines, 2,000,000
Conjugal properties, USA, 10,000,000
Exclusive properties, USA, 5,000,000
The following deductions were claimed:
Actual funeral expenses, 1,250,000
Judicial expenses, 800,000
Claims against the estate, 1,725,000
Transfer for Public Use, 200,000
Medical expense, 875,000
Included in the Philippines gross estate (conjugal) were the following:
Domestic shares, 500,000
Share in a
Other tangible personal properties, 3,500,000
The Philippine exclusive properties were all tangible personal properties. These included
a car, which was inherited 3 1⁄2 years before the present decedent’s death, and had a
fair market value of 500,000.
Required
Determine the following:
1. Exclusive Property of the Decedent
2. Community Property
3. Taxable Net Estate
4. Estate Tax Due
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