IRS Form 706 United States Estate (And Generation-Skipping Transfer) Tax Return

IRS Form 706 or the "United States Estate (and Generation-skipping Transfer) Tax Return" is a form issued by the U.S. Department of the Treasury - Internal Revenue Service.

The form was last revised in November 1, 2018 and is available for digital filing. Download an up-to-date IRS Form 706 in PDF-format down below or look it up on the U.S. Department of the Treasury - Internal Revenue Service Forms website.

Step-by-step Form 706 instructions can be downloaded by clicking this link.

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706
United States Estate (and Generation-Skipping Transfer)
Form
Tax Return
(Rev. November 2018)
OMB No. 1545-0015
Estate of a citizen or resident of the United States (see instructions). To be filed for
decedents dying after December 31, 2017.
Department of the Treasury
Internal Revenue Service
Go to www.irs.gov/Form706 for instructions and the latest information.
1a
Decedent’s first name and middle initial (and maiden name, if any)
1b Decedent’s last name
2 Decedent’s social security no.
3a
3b Year domicile established 4 Date of birth
5 Date of death
City, town, or post office; county; state or province; country; and ZIP
or foreign postal code
6b Executor’s address (number and street including apartment or suite no.; city, town,
or post office; state or province; country; and ZIP or foreign postal code) and
phone no.
6a
Name of executor (see instructions)
6c
Executor’s social security number (see instructions)
Phone no.
6d
If there are multiple executors, check here
and attach a list showing the names, addresses, telephone numbers, and SSNs of the additional executors.
7a
Name and location of court where will was probated or estate administered
7b Case number
8
If decedent died testate, check here
and attach a certified copy of the will.
9 If you extended the time to file this Form 706, check here
10
11 If you are estimating the value of assets included in the gross estate on line 1 pursuant to the special rule of Reg. section 20.2010-2(a)(7)(ii), check here
If Schedule R-1 is attached, check here
1
Total gross estate less exclusion (from Part 5—Recapitulation, item 13) .
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1
2
Tentative total allowable deductions (from Part 5—Recapitulation, item 24) .
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2
3a
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Tentative taxable estate (subtract line 2 from line 1) .
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b
State death tax deduction .
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3b
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Taxable estate (subtract line 3b from line 3a) .
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3c
4
4
Adjusted taxable gifts (see instructions)
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5
Add lines 3c and 4
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5
6
Tentative tax on the amount on line 5 from Table A in the instructions
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6
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7
Total gift tax paid or payable (see instructions) .
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8
Gross estate tax (subtract line 7 from line 6) .
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8
9a
Basic exclusion amount .
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9a
b
Deceased spousal unused exclusion (DSUE) amount from predeceased spouse(s),
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if any (from Section D, Part 6—Portability of Deceased Spousal Unused Exclusion)
c
Restored exclusion amount (see instructions)
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9c
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Applicable exclusion amount (add lines 9a, 9b, and 9c)
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9d
e
Applicable credit amount (tentative tax on the amount in line 9d from
Table A in the instructions) .
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9e
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Adjustment to applicable credit amount (May not exceed $6,000. See
10
instructions.) .
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11
Allowable applicable credit amount (subtract line 10 from line 9e)
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11
12
Subtract line 11 from line 8 (but do not enter less than zero)
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12
13
13
Credit for foreign death taxes (from Schedule P). (Attach Form(s) 706-CE.)
14
Credit for tax on prior transfers (from Schedule Q) .
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14
15
Total credits (add lines 13 and 14) .
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15
16
Net estate tax (subtract line 15 from line 12) .
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16
17
17
Generation-skipping transfer (GST) taxes payable (from Schedule R, Part 2, line 10)
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18
Total transfer taxes (add lines 16 and 17) .
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18
19
Prior payments (explain in an attached statement) .
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19
20
20
Balance due (or overpayment) (subtract line 19 from line 18) .
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Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and
belief, it is true, correct, and complete. Declaration of preparer (other than the executor) is based on all information of which preparer has any knowledge.
Sign
Signature of executor
Date
Here
Signature of executor
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Check
if
Paid
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
706
Form
(Rev. 11-2018)
For Privacy Act and Paperwork Reduction Act Notice, see instructions.
Cat. No. 20548R
706
United States Estate (and Generation-Skipping Transfer)
Form
Tax Return
(Rev. November 2018)
OMB No. 1545-0015
Estate of a citizen or resident of the United States (see instructions). To be filed for
decedents dying after December 31, 2017.
Department of the Treasury
Internal Revenue Service
Go to www.irs.gov/Form706 for instructions and the latest information.
1a
Decedent’s first name and middle initial (and maiden name, if any)
1b Decedent’s last name
2 Decedent’s social security no.
3a
3b Year domicile established 4 Date of birth
5 Date of death
City, town, or post office; county; state or province; country; and ZIP
or foreign postal code
6b Executor’s address (number and street including apartment or suite no.; city, town,
or post office; state or province; country; and ZIP or foreign postal code) and
phone no.
6a
Name of executor (see instructions)
6c
Executor’s social security number (see instructions)
Phone no.
6d
If there are multiple executors, check here
and attach a list showing the names, addresses, telephone numbers, and SSNs of the additional executors.
7a
Name and location of court where will was probated or estate administered
7b Case number
8
If decedent died testate, check here
and attach a certified copy of the will.
9 If you extended the time to file this Form 706, check here
10
11 If you are estimating the value of assets included in the gross estate on line 1 pursuant to the special rule of Reg. section 20.2010-2(a)(7)(ii), check here
If Schedule R-1 is attached, check here
1
Total gross estate less exclusion (from Part 5—Recapitulation, item 13) .
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1
2
Tentative total allowable deductions (from Part 5—Recapitulation, item 24) .
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2
3a
3a
Tentative taxable estate (subtract line 2 from line 1) .
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b
State death tax deduction .
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3b
c
Taxable estate (subtract line 3b from line 3a) .
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3c
4
4
Adjusted taxable gifts (see instructions)
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5
Add lines 3c and 4
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5
6
Tentative tax on the amount on line 5 from Table A in the instructions
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6
7
7
Total gift tax paid or payable (see instructions) .
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8
Gross estate tax (subtract line 7 from line 6) .
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8
9a
Basic exclusion amount .
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9a
b
Deceased spousal unused exclusion (DSUE) amount from predeceased spouse(s),
9b
if any (from Section D, Part 6—Portability of Deceased Spousal Unused Exclusion)
c
Restored exclusion amount (see instructions)
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9c
d
Applicable exclusion amount (add lines 9a, 9b, and 9c)
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9d
e
Applicable credit amount (tentative tax on the amount in line 9d from
Table A in the instructions) .
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9e
10
Adjustment to applicable credit amount (May not exceed $6,000. See
10
instructions.) .
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11
Allowable applicable credit amount (subtract line 10 from line 9e)
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11
12
Subtract line 11 from line 8 (but do not enter less than zero)
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12
13
13
Credit for foreign death taxes (from Schedule P). (Attach Form(s) 706-CE.)
14
Credit for tax on prior transfers (from Schedule Q) .
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14
15
Total credits (add lines 13 and 14) .
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15
16
Net estate tax (subtract line 15 from line 12) .
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16
17
17
Generation-skipping transfer (GST) taxes payable (from Schedule R, Part 2, line 10)
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18
Total transfer taxes (add lines 16 and 17) .
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18
19
Prior payments (explain in an attached statement) .
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19
20
20
Balance due (or overpayment) (subtract line 19 from line 18) .
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Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and
belief, it is true, correct, and complete. Declaration of preparer (other than the executor) is based on all information of which preparer has any knowledge.
Sign
Signature of executor
Date
Here
Signature of executor
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Check
if
Paid
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
706
Form
(Rev. 11-2018)
For Privacy Act and Paperwork Reduction Act Notice, see instructions.
Cat. No. 20548R
Form 706 (Rev. 11-2018)
Decedent’s social security number
Estate of:
Part 3—Elections by the Executor
Note: For information on electing portability of the decedent’s DSUE amount, including how to opt out of the election, see Part 6—
Portability of Deceased Spousal Unused Exclusion.
Note: Some of the following elections may require the posting of bonds or liens.
Yes No
Please check “Yes” or “No” for each question. See instructions.
1
Do you elect alternate valuation?
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1
2
Do you elect special-use valuation? If “Yes,” you must complete and attach Schedule A-1
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2
3
Do you elect to pay the taxes in installments as described in section 6166? .
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If “Yes,” you must attach the additional information described in the instructions.
Note: By electing section 6166 installment payments, you may be required to provide security for estate tax deferred
under section 6166 and interest in the form of a surety bond or a section 6324A lien.
3
4
Do you elect to postpone the part of the taxes due to a reversionary or remainder interest as described in section 6163?
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Part 4—General Information
Note: Please attach the necessary supplemental documents. You must attach the death certificate. See instructions.
Authorization to receive confidential tax information under Reg. section 601.504(b)(2)(i); to act as the estate’s representative before the IRS; and to
make written or oral presentations on behalf of the estate:
Name of representative (print or type)
State
Address (number, street, and room or suite no., city, state, and ZIP code)
I declare that I am the
attorney/
certified public accountant/
enrolled agent (check the applicable box) for the executor. I am not under
suspension or disbarment from practice before the Internal Revenue Service and am qualified to practice in the state shown above.
Signature
CAF number
Date
Telephone number
1
Death certificate number and issuing authority (attach a copy of the death certificate to this return).
2
Decedent’s business or occupation. If retired, check here
and state decedent’s former business or occupation.
3a
Marital status of the decedent at time of death:
Married
Widow/widower
Single
Legally separated
Divorced
3 b
For all prior marriages, list the name and SSN of the former spouse, the date the marriage ended, and whether the marriage ended by
annulment, divorce, or death. Attach additional statements of the same size if necessary.
4a
4b Social security number
4c Amount received (see instructions)
Surviving spouse’s name
5
Individuals (other than the surviving spouse), trusts, or other estates who receive benefits from the estate (do not include charitable
beneficiaries shown in Schedule O) (see instructions).
Name of individual, trust, or estate receiving $5,000 or more
Identifying number
Relationship to decedent
Amount (see instructions)
All unascertainable beneficiaries and those who receive less than $5,000 .
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Total .
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Yes No
If you answer “Yes” to any of the following questions, you must attach additional information as described.
6
Is the estate filing a protective claim for refund? .
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If “Yes,” complete and attach two copies of Schedule PC for each claim.
7
Does the gross estate contain any section 2044 property (qualified terminable interest property (QTIP) from a prior gift or estate)?
See instructions
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8 a
Have federal gift tax returns ever been filed? .
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If “Yes,” attach copies of the returns, if available, and furnish the following information.
b
Period(s) covered
c Internal Revenue office(s) where filed
9a
Was there any insurance on the decedent’s life that is not included on the return as part of the gross estate? .
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b
Did the decedent own any insurance on the life of another that is not included in the gross estate? .
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Page 2
Form 706 (Rev. 11-2018)
Decedent’s social security number
Estate of:
Part 4—General Information (continued)
Yes No
If you answer “Yes” to any of the following questions, you must attach additional information as described.
10
Did the decedent at the time of death own any property as a joint tenant with right of survivorship in which (a) one or more of the
other joint tenants was someone other than the decedent’s spouse, and (b) less than the full value of the property is included on
the return as part of the gross estate? If “Yes,” you must complete and attach Schedule E
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11 a
Did the decedent, at the time of death, own any interest in a partnership (for example, a family limited partnership), an
unincorporated business, or a limited liability company; or own any stock in an inactive or closely held corporation? .
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b
If “Yes,” was the value of any interest owned (from above) discounted on this estate tax return? If “Yes,” see the instructions on
reporting the total accumulated or effective discounts taken on Schedule F or G
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12
Did the decedent make any transfer described in sections 2035, 2036, 2037, or 2038? See instructions. If “Yes,” you must
complete and attach Schedule G
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13a
Were there in existence at the time of the decedent’s death any trusts created by the decedent during his or her lifetime? .
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b
Were there in existence at the time of the decedent’s death any trusts not created by the decedent under which the decedent
possessed any power, beneficial interest, or trusteeship? .
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c
Was the decedent receiving income from a trust created after October 22, 1986, by a parent or grandparent? .
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If “Yes,” was there a GST taxable termination (under section 2612) on the death of the decedent? .
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d
If there was a GST taxable termination (under section 2612), attach a statement to explain. Provide a copy of the trust or will
creating the trust, and give the name, address, and phone number of the current trustee(s).
e
Did the decedent at any time during his or her lifetime transfer or sell an interest in a partnership, limited liability company, or
closely held corporation to a trust described in line 13a or 13b?
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If “Yes,” provide the EIN for this transferred/sold item.
14
Did the decedent ever possess, exercise, or release any general power of appointment? If “Yes,” you must complete and attach Schedule H
15
Did the decedent have an interest in or a signature or other authority over a financial account in a foreign country, such as a bank
account, securities account, or other financial account?
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16
Was the decedent, immediately before death, receiving an annuity described in the “General” paragraph of the instructions for
Schedule I or a private annuity? If “Yes,” you must complete and attach Schedule I
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17
Was the decedent ever the beneficiary of a trust for which a deduction was claimed by the estate of a predeceased spouse
under section 2056(b)(7) and which is not reported on this return? If “Yes,” attach an explanation
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Part 5—Recapitulation.
Note: If estimating the value of one or more assets pursuant to the special rule of Reg. section 20.2010-2(a)(7)(ii), enter
on both lines 10 and 23 the amount noted in the instructions for the corresponding range of values. See instructions for details.
Item no.
Gross estate
Alternate value
Value at date of death
1
Schedule A—Real Estate
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2
Schedule B—Stocks and Bonds .
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2
3
3
Schedule C—Mortgages, Notes, and Cash .
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4
4
Schedule D—Insurance on the Decedent’s Life (attach Form(s) 712) .
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5
Schedule E—Jointly Owned Property (attach Form(s) 712 for life insurance)
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5
6
Schedule F—Other Miscellaneous Property (attach Form(s) 712 for life insurance)
6
7
Schedule G—Transfers During Decedent’s Life (att. Form(s) 712 for life insurance)
7
8
Schedule H—Powers of Appointment
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8
9
Schedule I—Annuities
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9
10
Estimated value of assets subject to the special rule of Reg. section 20.2010-2(a)(7)(ii)
10
11
Total gross estate (add items 1 through 10) .
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11
12
Schedule U—Qualified Conservation Easement Exclusion
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12
13
Total gross estate less exclusion (subtract item 12 from item 11). Enter here and
on line 1 of Part 2—Tax Computation .
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13
Item no.
Deductions
Amount
14
Schedule J—Funeral Expenses and Expenses Incurred in Administering Property Subject to Claims
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14
15
Schedule K—Debts of the Decedent .
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15
16
Schedule K—Mortgages and Liens
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16
17
Total of items 14 through 16
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17
18
18
Allowable amount of deductions from item 17 (see the instructions for item 18 of the Recapitulation) .
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19
Schedule L—Net Losses During Administration .
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19
20
Schedule L—Expenses Incurred in Administering Property Not Subject to Claims .
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20
21
Schedule M—Bequests, etc., to Surviving Spouse .
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21
22
Schedule O—Charitable, Public, and Similar Gifts and Bequests .
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22
23
Estimated value of deductible assets subject to the special rule of Reg. section 20.2010-2(a)(7)(ii) .
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23
24
24
Tentative total allowable deductions (add items 18 through 23). Enter here and on line 2 of the Tax Computation
Page 3
Form 706 (Rev. 11-2018)
Decedent’s social security number
Estate of:
Part 6—Portability of Deceased Spousal Unused Exclusion (DSUE)
Portability Election
A decedent with a surviving spouse elects portability of the DSUE amount, if any, by completing and timely filing this return. No further action is
required to elect portability of the DSUE amount to allow the surviving spouse to use the decedent’s DSUE amount.
Section A. Opting Out of Portability
The estate of a decedent with a surviving spouse may opt out of electing portability of the DSUE amount. Check here and do not complete Sections B
and C of Part 6 only if the estate opts NOT to elect portability of the DSUE amount.
Section B. Qualified Domestic Trust (QDOT)
Yes No
Are any assets of the estate being transferred to a QDOT?
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If “Yes,” the DSUE amount portable to a surviving spouse (calculated in Section C, below) is preliminary and shall be redetermined at the time of the
final distribution or other taxable event imposing estate tax under section 2056A. See instructions for more details.
Section C. DSUE Amount Portable to the Surviving Spouse
(To be completed by the estate of a decedent making a portability election.)
Complete the following calculation to determine the DSUE amount that can be transferred to the surviving spouse.
1
Enter the amount from line 9d, Part 2—Tax Computation
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1
2
Reserved
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2
3
Enter the value of the cumulative lifetime gifts on which tax was paid or payable. See instructions
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3
4
4
Add lines 1 and 3 .
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5
5
Enter amount from line 10, Part 2—Tax Computation
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6
Divide amount on line 5 by 40% (0.40) (do not enter less than zero)
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6
7
Subtract line 6 from line 4
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7
8
Enter the amount from line 5, Part 2—Tax Computation .
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8
9
Subtract line 8 from line 7 (do not enter less than zero) .
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9
10
DSUE amount portable to surviving spouse (Enter lesser of line 9 or line 9a, Part 2—Tax Computation) .
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10
Section D. DSUE Amount Received From Predeceased Spouse(s)
(To be completed by the estate of a deceased surviving spouse
with DSUE amount from predeceased spouse(s))
Provide the following information to determine the DSUE amount received from deceased spouses.
A
B
C
D
E
F
G
Name of Deceased Spouse
Date of Death
Portability
If “Yes,” DSUE
DSUE Amount
Year of Form 709
Remaining DSUE
(dates of death after
(enter as mm/dd/yy)
Election
Amount Received
Applied by
Reporting Use of DSUE
Amount, if any
December 31, 2010, only)
Made?
From Spouse
Decedent to
Amount Listed in col. E
(subtract col. E
Lifetime Gifts
from col. D)
Yes
No
Part 1 — DSUE RECEIVED FROM LAST DECEASED SPOUSE
Part 2 — DSUE RECEIVED FROM OTHER PREDECEASED SPOUSE(S) AND USED BY DECEDENT
Total (for all DSUE amounts from predeceased spouse(s) applied)
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Add the amount from Part 1, column D, and the total from Part 2, column E. Enter the result on line 9b, Part 2—Tax
Computation
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Page 4
Form 706 (Rev. 11-2018)
Decedent’s social security number
Estate of:
SCHEDULE A—Real Estate
• For jointly owned property that must be disclosed on Schedule E, see instructions.
• Real estate that is part of a sole proprietorship should be shown on Schedule F.
• Real estate that is included in the gross estate under sections 2035, 2036, 2037, or 2038 should be shown on Schedule G.
• Real estate that is included in the gross estate under section 2041 should be shown on Schedule H.
• If you elect section 2032A valuation, you must complete Schedule A and Schedule A-1.
Note: If the value of the gross estate, together with the amount of adjusted taxable gifts, is less than the basic exclusion amount and Form
706 is being filed solely to elect portability of the DSUE amount, consideration should be given as to whether you are required to report the
value of assets eligible for the marital or charitable deduction on this schedule. See the instructions for more information. If you are not
required to report the value of an asset, identify the property but make no entries in the last three columns.
Item
Alternate
Description
Alternate value
Value at date of death
number
valuation date
Total from continuation schedules or additional statements attached to this schedule .
TOTAL (Also enter on Part 5—Recapitulation, page 3, at item 1.)
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(If more space is needed, attach the continuation schedule from the end of this package or additional statements of the same size.)
Schedule A—Page 5

Download IRS Form 706 United States Estate (And Generation-Skipping Transfer) Tax Return

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