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Mr. Damon Salvatore died on Nov. 13, 2013 due to a lung cancer. He is a resident citizen of the
Philippines. Mr. Salvatore is married to Elena in 1995 and he has a legitimate child and an
illegitimate child. Elena presented the following properties of Mr. Salvatore:
8,000,000
5,000,000
300,000
2,000,000
300,000
2,000,000
6,000,000
500,000
240,000
300,000
2,500,000
2,000,000
600,000
Prior to the death of Mr. Salvatore, he was hospitalized in WALANG PAG-ASA HOSPITAL for 6
months from March 6, 2013 to August 28, 2013. They incurred the following:
Medicine
Doctors fee
Foods
320,000
200,000
90,000
Andres, Joann C.
Atty. Jose Fernando Llave
TAX02 IRRC
OBITUARY
A noble and caring soul a pleasing assiduous and dynamic personality like you will
never depart from loved ones. It is a known fact that you have always been a
shining and guiding force for all of us. We promise you that we will follow the
path shown by you. Your virtues and deeds shall
always be a beacon light in our hearts. We miss you
a lot in every moment of our life. We offer our
heartfelt condolences.
Deeply remembered by:
Elena Salvatore (wife)
Stefan Salvatore (brother)
Caroline Salvatore (daughter)
Bonnie Salvatore (daughter)
Damon Salvatore
Andres, Joann C.
Atty. Jose Fernando Llave
TAX02 IRRC
CPA Certificate
In order to comply with estate tax rulings and to procure BIR Clearance, we hereby issue this
CPA statement on the itemized assets of the decedent, itemized deductions from gross estate
and the amount due.
Properties:
1.
2.
3.
4.
5.
6.
7.
8,000,000
5,000,000
300,000
2,000,000
2,000,000
6,000,000
500,000
1.
2.
3.
4.
5.
6.
Exclusive
240,000
300,000
2,500,000
2,000,000
600,000
500,000
Community
Total
Andres, Joann C.
Atty. Jose Fernando Llave
TAX02 IRRC
P8,000,000
5,000,000
300,000
300,000
2,000,000
6,000,000
500,000
____________2,000,000_______
7,300,000
16,800,000 24,100,000
240,000
300,000
600,000
2,000,000
2,500,000
2,702,074.69
5,802,074.69
1,497,925.31
2,540,000 8,324.074.69
14,260,000 15,757,925.69
Value taken
P 5,000,000
1,000,000
1,000,000
500,000
2,500,000
13,257,925.69
7,130,000
6,127,925.69
Andres, Joann C.
Atty. Jose Fernando Llave
TAX02 IRRC
600,000
Initial Basis
4,400,000
1,022,406.64
24,100,000
Final Basis
Level of vanishing
Vanishing Deduction
3,377,593.36
80%
2,702,074.69