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The document outlines various tax-related questions regarding deductions for family homes, standard deductions, and casualty losses. It specifies that non-resident aliens cannot claim special deductions for family homes, and the maximum allowable standard deduction is P5,000,000. Additionally, it states that the allowable deductible amount for family homes is P10,000,000.

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Lucy Heartfilia
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62 views2 pages

3

The document outlines various tax-related questions regarding deductions for family homes, standard deductions, and casualty losses. It specifies that non-resident aliens cannot claim special deductions for family homes, and the maximum allowable standard deduction is P5,000,000. Additionally, it states that the allowable deductible amount for family homes is P10,000,000.

Uploaded by

Lucy Heartfilia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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2.

Which of the following decedents cannot claim special deductions for


family home?

a. Resident citizen

b. Resident alien

c. Non-resident alien

d. Non-resident citizen

3. Which of the following is an incentive deductions?

a. Family home

b. Standard deductions

c. Vanishing deduction

d. All of these

4. Which is not an ordinary deduction?

a. Family home

b. Vanishing deduction

c. Transfer for public use

d. Casualty losses of estate properties

5. The maximum allowable amount of standard deduction is

a. P200,000

b. P500,000

c. P5,000,000

d. P10,000,000
C

6. What is the maximum amount of deductible casualty losses?

a. None

b. P500,000

c. P1,000,000

d. 10% of gross estate

7. The allowable deductible amount of family home is

a. 5% of gross estate

b. P2,000,000

c. P5,000,000

d. P10,000,000

14-15. A Chinese citizen residing in Quezon City, Philippines, died


leaving several properties in the Philippines. How much standard deduction
can his estate claim?

a. P0

b. P500,000

c. P5,000,000

d. P10,000,000

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