Form 706 (Draft) - United States Estate (And Generation-Skipping Transfer) Tax Return - 2016 Page 18
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55Table of Estimated Values
Item 10. Under Regulations section
20.2010-2(a)(7)(ii), if the total value of
the gross estate and adjusted taxable
If the total estimated value of
gifts is less than the basic exclusion
the assets eligible for the
special rule under Reg.
amount (see section 6018(a)) and Form
section 20.2010-2(a)(7)(ii) is
Include this amount on lines
706 is being filed only to elect portability
more than
But less than or equal to
10 and 23:
of the DSUE amount, the estate is not
required to report the value of certain
$0
$250,000
$250,000
DRAFT AS OF
property eligible for the marital or
$250,000
$500,000
$500,000
charitable deduction. For this property
$500,000
$750,000
$750,000
being reported on Schedules A, B, C, D,
E, F, G, H, and I, the executor must
$750,000
$1,000,000
$1,000,000
calculate his or her best estimate of the
$1,000,000
$1,250,000
$1,250,000
value. Do not include the estimated
June 16, 2016
$1,250,000
$1,500,000
$1,500,000
value on the line corresponding to the
schedule on which the property was
$1,500,000
$1,750,000
$1,750,000
reported. Instead, total the estimated
$1,750,000
$2,000,000
$2,000,000
value of the assets subject to the
$2,000,000
$2,250,000
$2,250,000
special rule and enter on line 10 the
amount from the Table of Estimated
$2,250,000
$2,500,000
$2,500,000
Values, later, that corresponds to that
$2,500,000
$2,750,000
$2,750,000
total.
$2,750,000
$3,000,000
$3,000,000
Note. The special rule does not apply if
$3,000,000
$3,250,000
$3,250,000
the valuation of the asset is needed to
$3,250,000
$3,500,000
$3,500,000
determine the estate's eligibility for the
provisions of sections 2032, 2032A,
$3,500,000
$3,750,000
$3,750,000
2652(a)(3), 6166, or any other provision
$3,750,000
$4,000,000
$4,000,000
of the Code or Regulations.
$4,000,000
$4,250,000
$4,250,000
Note. As applies to all other values
$4,250,000
$4,500,000
$4,500,000
reported on Form 706, estimates of the
$4,500,000
$4,750,000
$4,750,000
value of property subject to the special
$4,750,000
$5,000,000
$5,000,000
rule of Regulations section 20.2010-2(a)
(7)(ii) must result from the executor’s
$5,000,000
$5,250,000
$5,250,000
exercise of due diligence and are
$5,250,000
$5,450,000
$5,450,000
subject to penalties of perjury.
Exclusion — Item 12
account, an offshore trust, or other
in items 1 through 9. Total the estimated
Item 12. Conservation easement ex-
financial account.
values for those assets and follow the
clusion. Complete and attach
instructions for item 10.
Schedule U (along with any required
Part 5—Recapitulation
attachments) to claim the exclusion on
Which schedules to attach for items
this line.
1 through 9. You must attach:
Gross Estate—Items 1 through
Schedule F. Answer its questions
Deductions — Items 14 through
11
even if you report no assets on it;
23
Schedules A, B, and C, if the gross
Items 1 through 9. You must make an
estate includes any (1) Real Estate, (2)
Items 14 through 22. Attach the
entry in each of items 1 through 9.
Stocks and Bonds, or (3) Mortgages,
appropriate schedules for the
If the gross estate does not contain
Notes, and Cash, respectively;
deductions claimed.
any assets of the type specified by a
Schedule D, if the gross estate
Item 18. If item 17 is less than or equal
given item, enter zero for that item.
includes any life insurance or if you
to the value (at the time of the
Entering zero for any of items 1 through
answered “Yes,” to question 9a of Part
decedent's death) of the property
9 is a statement by the executor, made
4—General Information;
subject to claims, enter the amount from
under penalties of perjury, that the gross
Schedule E, if the gross estate
item 17 on item 18.
estate does not contain any includible
contains any jointly-owned property or if
assets covered by that item.
If the amount on item 17 is more than
you answered “Yes,” to question 10 of
the value of the property subject to
Part 4;
Do not enter any amounts in the
claims, enter the greater of:
“Alternate value” column unless you
Schedule G, if the decedent made
The value of the property subject to
elected alternate valuation on line 1 of
any of the lifetime transfers to be listed
claims or
Part 3—Elections by the Executor.
on that schedule or if you answered
The amount actually paid at the time
“Yes,” to question 12 or 13a of Part 4;
Note. If estimating the value of one or
the return is filed.
Schedule H, if you answered “Yes,” to
more assets pursuant to the special rule
question 14 of Part 4; and
In no event should you enter more on
of Regulations section 20.2010-2(a)(7)
Schedule I, if you answered “Yes,” to
item 18 than the amount on item 17.
(ii), do not enter values for those assets
question 16 of Part 4.
Part Instructions
-17-
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