Quiz #2 - Donor'S Tax My2021 (TAX 2 - BSA S-2C - MY2021) : Points
Quiz #2 - Donor'S Tax My2021 (TAX 2 - BSA S-2C - MY2021) : Points
Quiz #2 - Donor'S Tax My2021 (TAX 2 - BSA S-2C - MY2021) : Points
Correct answers: 500,000
2.Donations on one date by Kurt, a father, of property and cash, as follows: To
Imelda, a legitimate daughter, on account of marriage, land with a fair market
value of P500,000 but subject to a mortgage of P100,000 which is assumed by
Imelda; To John, a legitimate son, on account of marriage, cash of P200,000. The
total taxable net gifts made is:Required to answer. Single line text.
(2/2 Points)
3.Mr. Han, widower, gave the following donations: • P150,000 on January 3, 2018
to Anna, sister, given on account of marriage on January 1, 2018 • P150,000 on
February 5, 2018 to Venice, legitimate child, given on account of marriage on
May 5, 2018 • P150,000 on June 5, 2018 to Camille, legitimate child, given on
account of marriage on June 2, 2017 How much is the donor’s tax due on the last
donation?Required to answer. Single line text.
(2/2 Points)
4.Mr. and Mrs. J made the following donations out of their community property
during the year. • Jun. 15, 2020 : to Bea, legitimate daughter, on account of
marriage, on January 14, 2017, P300,000 cash • Aug.15, 2020 : to Lea, legitimate
daughter, who is going abroad, P100,000 cash • Oct. 15, 2020 : to Jea, car with
FMV of P500,000 What is the tax liability of the husband and wife for all their
donations?Required to answer. Single line text.
(2/2 Points)
5.A citizen and resident of the Philippines, made donations on January 8, 2018, as
follows: • Donation to a legitimate son, property in the United States (on which a
U.S. donor’s tax of P8,000 was paid), with FMV of P300,000 • Donation to a
legitimate daughter, cash in the Philippines of P200,000 How much is the donor’s
tax credit for donor’s tax paid to U.S.?Required to answer. Single line text.
(2/2 Points)
6.Mr. D made the following gifts to his relatives: • Philippines: Gross gifts,
P750,000; Deductions, P250,000 • USA: Gross gifts, P500,000; Deductions,
P200,000; Tax paid, P16,000 • UK: Gross gifts, P250,000; Deductions, P150,000; Tax
paid, P6,000 The donor’s tax due after credit is:Required to answer. Single line
text.
(0/2 Points)
Correct answers: 21,667
7.Mr. P, resident, made the following donations for the year 2020: • April 15 : to
Cecille, car worth P700,000 in the Philippines and to Sam, his daughter, car in USA
worth P300,000. They paid $180 gift tax in U.S. ($1-P51) • July 20 : to Remy, niece
in Manila, P200,000 worth of personal property and to Ruth, car worth P400,000
but mortgaged for P200,000, ½ of which was assumed by donee. How much is
the donor’s tax due on July 20, 2020?Required to answer. Single line text.
(2/2 Points)
8.Janna made the following donations, with fair market value at the time of
donation, as follows: January 5, 2020 Cash - P175,000 February 14, 2020 Wrist
watch - P200,000 November 1, 2020 Car subject to a mortgage of Php250,000
assumed by the donee - 500,000 January 5, 2021 Cash - 250,000 Determine the
donor’s tax due on the November 1, 2020 donation:Required to answer. Single
line text.
(2/2 Points)
9.Mr. Generous donated P500,000 to the City of Manila and P100,000 to his best
friend who graduated summa cum laude. For donor’s tax purposes, how much
should be the deductions?Required to answer. Single line text.
(0/2 Points)
Correct answers: 0
10.Victor had dinner with Karen on December 27, 2017. During said dinner, the
platinum nose ring, fairly valued then at Php375,000, which Victor was wearing
caught Karen’s attention. She was very much fascinated with the same. In order
to impress Karen, Victor offered to give the nose ring to Karen which the latter
accepted. They agreed to have it cleaned by Victor first and they will meet again
on January 1, 2018. On the said appointed day, Victor have the nose ring
delivered to Karen and the Deed of donation along with the deed of acceptance
were likewise executed on the said day. The taxable net gift amounts to.Required
to answer. Single line text.
(2/2 Points)
MULTIPLE CHOICE
Choose the correct answer from the given choices.
11.Characteristics of donor’s tax exceptRequired to answer. Single choice.
(0/1 Point)
National
General
Ad valorem
Proportionate
Property
Your answer to question 11 is wrong. Correct answers: Property
12.The following are the requisites of donation, except:Required to answer. Single
choice.
(0/1 Point)
Acceptance of the donor
Delivery whether actual or constructive
Donative intent
Capacity of the donor to gratuitously dispose his property
Your answer to question 12 is wrong. Correct answers: Delivery whether actual or constructive
13.First statement: Donation is an act of liberty whereby a person disposes
gratuitously of a thing or right in favor of another who accepts it. Second
statement: A gift that is incomplete because of reserved powers, becomes
complete when the donor renounces the power or his right to exercise the
reserved power ceases because some event or contingency or the fulfillment of
some condition, other than the donor’s death.Required to answer. Single choice.
(1/1 Point)
Both statements are true.
Both statements are false.
The first statement is true and the second statement is false.
The first statement is false and the second statement is true.
Correct answers: Both statements are true.
14.First statement: Donation inter vivos happens when the donor intends that the
donation shall take effect during his lifetime, though the property shall be
delivered till after his death. Second statement: Donation of immovable property
requires that the donation be made in a public document specifying therein the
property donated and the value of the charges which the donee must
satisfy.Required to answer. Single choice.
(0/1 Point)
Both statements are true.
Both statements are false.
The first statement is true and the second statement is false.
The first statement is false and the second statement is true.
Your answer to question 14 is wrong. Correct answers: Both statements are true.
15.First statement: If the value of the personal property donated exceeds three
thousand pesos, the donation and acceptance shall be made in writing to be
considered a valid donation. Second statement: A transfer is gratuitous or
without consideration and accordingly qualifies as a donation, if no economic
benefit measurable in money or in money’s worth flowed to the transferor from
the transferee.Required to answer. Single choice.
(1/1 Point)
Both statements are true.
Both statements are false.
The first statement is true and the second statement is false.
The first statement is false and the second statement is true.
Correct answers: The first statement is false and the second statement is true.
16.First statement: The rule of reciprocity that applies to estate tax also applies to
non-resident alien donor as far as donation of intangible personal property
situated in the Philippines. Second statement: Before TRAIN (RA No. 10963), in
case when a property donated comes from common properties, the husband and
the wife can claim dowry exemption being donors of one-half each of the
common property.Required to answer. Single choice.
(0/1 Point)
Both statements are true.
Both statements are false.
The first statement is true and the second statement is false.
The first statement is false and the second statement is true.
Your answer to question 16 is wrong. Correct answers: Both statements are true.
17.First statement: A sold his car (cost, P300,000) to B for P500,000. The car has a
fair market value of P900,000 at the time of sale. The difference of P400,000 in
selling price and fair market value constitutes a gift subject to donor’s tax.
Second statement: C purchased a lot and cottage in Alaminos City in 2017 for
P1,000,000. It was used as a summer vacation house by his family. In 2018, C
decided to sell the lot and cottage to D for P2,000,000 although its present
market value is P2,500,000. The P500,000 difference in selling price and market
value is a gift but not subject to donor’s tax.Required to answer. Single choice.
(0/1 Point)
Both statements are true.
Both statements are false.
The first statement is true and the second statement is false.
The first statement is false and the second statement is true.
Your answer to question 17 is wrong. Correct answers: Both statements are true.
18.First statement: The gross gifts if a donor who is a citizen, whether resident or
non-resident of the Philippines, will include all properties wherever situated.
Second statement: Where property, other than real property subject to capital
gains tax, is transferred for less than an adequate and full consideration in money
or money’s worth, then the amount by which the fair market value of the
property exceeded the value if the consideration shall, for the purpose of donor’s
tax, be deemed a gift, and shall be included in computing the amount of gifts
made during the calendar year.Required to answer. Single choice.
(1/1 Point)
Both statements are true.
Both statements are false.
The first statement is true and the second statement is false.
The first statement is false and the second statement is true.
Correct answers: Both statements are true.
19.The following are the modes of a valid donation, exceptRequired to answer.
Single choice.
(0/1 Point)
Verbal/oral donation whereby the gift is a ballpoint pen valued at Php500.
Donation in writing of an Apple Watch Series 7 valued at Php35,000
Donation in writing of a parcel of land whereby both the deed of donation and its acceptance is
made in public document.
Oral donation of a shoe valued at Php20,000
Your answer to question 19 is wrong. Correct answers: Donation in writing of a parcel of land
whereby both the deed of donation and its acceptance is made in public document.
20.Victor had dinner with Karen on December 27, 2017. During said dinner, the
platinum nose ring, fairly valued then at Php375,000, which Victor was wearing
caught Karen’s attention. She was very much fascinated with the same. In order
to impress Karen, Victor offered to give the nose ring to Karen which the latter
accepted. They agreed to have it cleaned by Victor first and they will meet again
on January 1, 2018. On the said appointed day, Victor have the nose ring
delivered to Karen and the Deed of donation along with the deed of acceptance
were likewise executed on the said day. The last day for filing and payment of
donor’s tax is on.Required to answer. Single choice.
(1/1 Point)
January 26, 2018
February 25, 2018
January 30, 2018
February 14, 2018
Correct answers: January 30, 2018
21.Under the TRAIN, the donor’s tax for each calendar year shall be:Required to
answer. Single choice.
(1/1 Point)
six percent (6%) computed on the basis of the total gifts made during the calendar year.
six percent (6%) computed on the basis of the total gifts in excess of Thee hundred thousand
pesos (P300,000) exempt gift made during the calendar year.
six percent (6%) computed on the basis of the total gifts including those made in the previous
calendar year in excess of Two hundred fifty thousand pesos (P250,000) exempt gift made during the
calendar year.
six percent (6%) computed on the basis of the total gifts in excess of Two hundred fifty thousand
pesos (P250,000) exempt gift made during the calendar year.
Correct answers: six percent (6%) computed on the basis of the total gifts in excess of Two hundred
fifty thousand pesos (P250,000) exempt gift made during the calendar year.
22.The following are taxable on their worldwide donations, exceptRequired to
answer. Single choice.
(1/1 Point)
Resident citizen
Non-resident citizen
Resident alien
Non-resident alien
Correct answers: Non-resident alien
23.First Statement: Condonation of debt whereby the debtor is required to render
some service is considered a taxable gift. Second Statement: Encumbrance
assumed by the donor is a deduction from the gross gift.Required to answer.
Single choice.
(1/1 Point)
Both statements are correct
Both statements are incorrect
Only the first statement is correct
Only the second statement is correct
Correct answers: Only the second statement is correct
24.First statement: Renunciation by the surviving spouse of his/her share in the
conjugal partnership or absolute community after the dissolution of the marriage
in favor of the heirs of the deceased spouse of any other person is subject to
donor’s tax. Second Statement: General renunciation of an heir, including the
surviving spouse, of his/her share in the hereditary estate left by the decedent is
not subject to donor’s tax, unless specifically and categorically done in favor of
identified heirs, to the exclusion or disadvantage of the other co-heirs in the
hereditary estate.Required to answer. Single choice.
(0/1 Point)
Both statements are correct
Both statements are incorrect
Only the first statement is correct
Only the second statement is correct
Your answer to question 24 is wrong. Correct answers: Both statements are correct
25.The following are exclusions/deductions from gross gift, exceptRequired to
answer. Single choice.
(1/1 Point)
Gift made in favor of the Government or any political subdivisions
Gift made in favor of the International Rice Research Institute
Gift made in favor of the Integrated Bar of the Philippines
Gift made in favor of the Development Academy of the Philippines
Gift in favor of non-profit educational and/or charitable, religious, cultural or social welfare
corporation, whereby 40% of said gift is to be used for administration purpose
Correct answers: Gift in favor of non-profit educational and/or charitable, religious, cultural or social
welfare corporation, whereby 40% of said gift is to be used for administration purpose
26.The following are exclusions/deductions from the gross gift, exceptRequired
to answer. Single choice.
(0/1 Point)
Gift given by a parent (donor), on account of marriage of the donor’s child, at an amount not
exceeding Php10,000
Encumbrance assumed by the donee.
Donations of personal computers, laptops, tablets, or similar equipment appropriate for use in
schools, donated for distribution to public schools regardless of level, including state universities and
colleges (SUCs) and vocational institutions under TESDA (Bayanihan to Recover As One Act)
Donations to Intramuros Administration
Your answer to question 26 is wrong. Correct answers: Gift given by a parent (donor), on account of
marriage of the donor’s child, at an amount not exceeding Php10,000
27.Mr. Bryan, a citizen and resident of the United States gave the following to her
Filipina Fiance: (1) 1,000 San Miguel Corporation, common shares with P1.00 Par
Value and Mean value of the highest and lowest quote at donation of P100.00 (2)
Condominium unit in Makati with zonal value of Php7,000,000 and assessed
value of Php5,000,000 (3) Car in California, USA worth P1,500,000 Determine the
donor’s tax liability of Mr. Bryan:Required to answer. Single choice.
(2/2 Points)
P 411,000
P 405,000
P 250,000
P 100,000
Correct answers: P 411,000
28.Mr. Bryan, a citizen and resident of the United States gave the following to her
Filipina Fiancé: (1) 1,000 San Miguel Corporation, common shares with P1.00 Par
Value and Mean value of the highest and lowest quote at donation of P100.00 (2)
Condominium unit in Makati with zonal value of Php7,000,000 and assessed
value of Php5,000,000 (3) Car in California, USA worth P1,500,000 Assuming the
United states exempts Filipino donors from donor’s tax, how much is the donor’s
tax liability of Mr. Bryan?Required to answer. Single choice.
(2/2 Points)
Php411,000
Php405,000
Php250,000
Php100,00
Correct answers: Php405,000
29.Mr. Cura and his wife made the following donations during the year: January
25, Cash amounting to Php500,000 to the brother of the husband. The car is
subject to a mortgage of Php100,000. March 30, Car valued at 1,200,000 to their
daughter, on account of the daughter’s marriage. June 1, To the sister of Mrs.
Cura, diamond ring valued at Php800,000 which was inherited by Mrs. Cura,
during their marriage. Donor’s tax due from Mrs. Cura on the donation made in
June 1, 2020Required to answer. Single choice.
(0/2 Points)
P0
P 24,000
P 33,000
P 48,000
Your answer to question 29 is wrong. Correct answers: P 48,000
30.First Statement: The donor’s tax return shall be filed within thirty (30) days
after the date the gift is made or completed and the tax due thereon shall be
paid at the same time that the return is filed. Second Statement: In order to be
exempt from donor’s tax and to claim full deduction of the donation given to
qualified – donee institutions duly accredited, the donor engaged in business
shall give a notice of donation on every donation worth at least fifty thousand
pesos (Php50,000) to the Revenue District Office (RDO) which has jurisdiction
over his place of business.Required to answer. Single choice.
(1/1 Point)
Both statements are correct
Both statements are incorrect
Only the first statement is correct
Only the second statement is correct
Correct answers: Both statements are correct
31.First statement: The computation of the donor’s tax is on a cumulative basis
over a period of one calendar year. Second statement: Husband and wife are
considered as separate and distinct taxpayers for purposes of the donor’s
tax.Required to answer. Single choice.
(0/1 Point)
Both statements are correct
Both statements are incorrect
Only the first statement is correct
Only the second statement is correct
Your answer to question 31 is wrong. Correct answers: Both statements are correct
32.Patricia donated P110,000.00 to her friend Kimberly who was getting married.
Patricia gave no other gift during the calendar year. What is the donor's tax
implication on Patricia’s donation?Required to answer. Single choice.
(1/1 Point)
The P100,000.00 portion of the donation is exempt since given in consideration of marriage.
A P10,000.00 portion of the donation is exempt being a donation in consideration of marriage.
Patricia shall pay a 6% donor's tax on the P110,000.00 donation.
The P110,000.00 donation is exempt from donor's tax.
Correct answers: The P110,000.00 donation is exempt from donor's tax.
33.On June 10, 2018 Mr. Paolo donated P50,000 cash to his favorite grandson
who is getting married on June 16, 2018. For donor’s tax purposes the exempt
dowry shall be:Required to answer. Single choice.
(0/1 Point)
P 50,000.
P 5,000.
P 10,000.
None of the choices
Your answer to question 33 is wrong. Correct answers: None of the choices
34.On March 1, 2018, Ms. Aquino donated a piece of land to her best friend, Mar
Roxas. She also donated to a non-profit religious organization. The donation to
her friend was a piece of land which had an assessed value of P1,000,000 and
zonal value of P800,000 at the time of donation. The donations to a non-profit
religious organization were cash amounting to P200,000 and an automobile with
a purchase price of P700,000. The piece of land was encumbered with an unpaid
mortgage of P300,000 which was not assumed by the donee. In addition, the
donee agreed to pay the applicable donor’s tax of P210,000. How much was the
total deductions?Required to answer. Single choice.
(0/2 Points)
P 1,410,000
P 900,000
P 1,200,000
None of the choices
Your answer to question 34 is wrong. Correct answers: None of the choices
35.During the current year, Jose who resides in 158 R. Papa Street, Sampaloc
Manila and with TIN 135-567-890-006 made the following gifts: (1) June 1, 2018
to Anton, his son, on account of his marriage celebrated June 1, 2018 - P150,000
cash (2) July 10, 2018 to his friend Carlos - P400,000 second-hand motor vehicle
(3) September 30, 2018 to his daughter Dana - P450,000 cash dowry, on account
of her scheduled marriage on October 25, 2018 (4) November 23, 2018 to his
father, a parcel of land worth - P180,000, subject to the condition that his father
would assume the mortgage indebtedness of Jose in the amount of P40,000
Using Donor’s Tax Return (BIR Form No. 1800), how much will be reflected on line
14 “Total net gifts subject to tax” for the return to be filed on November 23,
2018?Required to answer. Single choice.
(2/2 Points)
P 1,140,000
P 140,000
P 890,000
None of the choices.
Correct answers: P 890,000
36.During the current year, Jose who resides in 158 R. Papa Street, Sampaloc
Manila and with TIN 135-567-890-006 made the following gifts: (1) June 1, 2018
to Anton, his son, on account of his marriage celebrated June 1, 2018 - P150,000
cash (2) July 10, 2018 to his friend Carlos - P400,000 second-hand motor vehicle
(3) September 30, 2018 to his daughter Dana - P450,000 cash dowry, on account
of her scheduled marriage on October 25, 2018 (4) November 23, 2018 to his
father, a parcel of land worth - P180,000, subject to the condition that his father
would assume the mortgage indebtedness of Jose in the amount of P40,000
Using the Donor’s Tax Return (BIR Form No. 1800), how much will be reflected on
line 18 “Tax payable/Overpayment”?Required to answer. Single choice.
(0/2 Points)
P 53,400
(P6,600)
P 8,400
None of the choices
Your answer to question 36 is wrong. Correct answers: P 53,400
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