[TOPIC 14] ORDINARY DEDUCTIONS FROM GROSS ESTATE | Transfer for Public Use and Vanishing Deductions

In computing the net taxable estate, the Tax Code allows several items that could be deducted from the gross estate to arrive with the net estate. These items are classified into three: the ordinary deductions, the special deductions, and the share of the surviving spouse.
In this video, we discuss the ordinary deductions particularly the transfer for public use and the vanishing deduction. In most estate tax topics, the discussion on the vanishing deduction is mostly highlighted as this type of deduction involved several steps or processes in the computation. Please watch this video for more detailed illustrations.
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If you want to learn more about income taxes, please open this playlist and enjoy every video: • Income Taxation (Phili...
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Also, if you want to learn more about business and transfer taxes, watch the following videos:
1. Overview of the National Internal Revenue Taxes: • [TOPIC 1] OVERVIEW OF ...
2. Basic Succession Concepts: • [TOPIC 3] BASIC SUCCES...
3. Testamentary Succession: • [TOPIC 4] TESTAMENTARY...
4. Intestate Succession: • [Topic 5] INTESTATE SU...
5. Causes of Disinheritance: • [TOPIC 6] DISINHERITAN...
6. Gross Estate Valuation of Real Properties, Personal Properties and Usufructuary Rights: • [TOPIC 7] GROSS ESTATE...
7. Gross Estate Valuation of Shares of Stocks: • [TOPIC 8] GROSS ESTATE...
8. Additions to Gross Estate: • [TOPIC 9] ADDITIONS TO...
9. Other Additions to Gross Estate: • [TOPIC 10] GROSS ESTAT...
10. Property of Relations: • [TOPIC 11] GROSS ESTAT...

[@sollicortado4774]

Your discussions are very concise and clear, sir! For students like me who cannot stand self-studying with the use of books and instead just get sleepy reading, you are a hero! When you said "I hope you learn something" in the last part of your video, I can confidently admit to myself that I am really learning with your lectures. You deserve an applause! More power to you!

[@JisrylRaz_ftt]

Thank you so much Solli for your appreciation. ❤️

[@kathleenvelle1140]

Your videos are very helpful po huhu thank you so much po sir! God Bless po!

[@JisrylRaz_ftt]

Thank you po. God bless you too.😊

[@christianm.marito513]

Thank you so much Sir Jisryl

[@JisrylRaz_ftt]

Welcome po

[@reemarx16]

thanks

[@JisrylRaz_ftt]

Welcome po.😊

[@aremmb]

Hello pooo! Ask lang po bakit hindi dinivide yung conjugal properties na 4,700,000 sa gross estate? Thank youuu.

[@jellybernardino5416]

Hello po sir, nagbibigay po ba kayo ng ppt or exclusive lang po sa student nyo? 😆 thanks sir. Galing nyo po.

[@JisrylRaz_ftt]

Pag meron pa po saken ang ppt. Kung business and transfer taxes po okay lang po.

[@jellybernardino5416]

Pede po humingi sir? Kung okay lang sir kung hindi, no worries po. Thanks sir.

[@JisrylRaz_ftt]

Kindly send me message po or email

[@yoshida8983]

Pahingi din po sir

[@cristjohnblanco4238]

What if the surviving spouse died a year after the prior decedent? Is there a vanishing deduction on the conjugal properties? As to what extent? To the amount only of the share of the surviving spouse from the previous transfer?

[@JisrylRaz_ftt]

Yes and yes.

[@cristjohnblanco4238]

@@JisrylRaz_ftt Thank you so much. Really a big help.

[@JisrylRaz_ftt]

Welcome po

[@BobCraze-qi4yd]

Helloo po sir, tanong lang po, bale po ang estate for public use or charitable estate ay part lang ng deductions sa gross estate? Hindi po sya excluded sa gross estate?

[@BobCraze-qi4yd]

Thankyouu so much poo sir. Sana po mapansin nyo

[@jerichoocan8147]

Hello po, pano po pag multiple properties po ung may FMV

[@karenpascual6812]

Hi po ask ko lang po, what if po communal paano po treated ng unpaid mortgage na meron parehong partner?

[@JisrylRaz_ftt]

Communal po if it was transacted for their benefits. As a general rule, if an obligation is not specifically attributable to any exclusive property of the decedent, it is assumed to have been transacted for the benefit of both the husband and the wife.