Estate Tax Return Computation
Estate Tax Return Computation
Estate Tax Return Computation
Mr. Juan Dela Cruz, married, died on February 4, 2019 leaving some properties to his family. His
administrator asked for your help in accomplishing the estate tax return of the decedent. Given
below are some of the information about Mr. Dela Cruz.
Less: Deductions
Ordinary Deductions
Claims against the estate 870,000.00
Unpaid Mortgages 500,000.00
Losses during the settlement of estate 340,000.00 _______________
Total Conjugal Deductions 1,710,000.00 1,710,000.00
Net Conjugal Deductions 5,540,000.00
Special Deductions
Family Home 2,375,000
Standard Deductions 5,000,000
Total Deductions 9,085,000
Net Estate 4,234,000.00
Less: 1/2 share of surviving spouse
Gross Conjugal or Community Estate 7,250,000.00
Conjugal or Community Estate 1,710,000.00
Net conjugal or community estate 5,540,000.00
Share of surviving spouse(5,540,000/2) 2,770,000.00 2,770,000.00
Net Taxable Estate 1,464,000.00