Form 706 (Draft) - United States Estate (And Generation-Skipping Transfer) Tax Return - 2016 Page 24
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55Schedule B Examples
Example showing use of Schedule B where the alternate valuation is not adopted; date of death, January 1, 2016
Description, including face amount of bonds or number of shares and par value where
Alternate
Value at
Item
needed for identification. Give CUSIP number. If trust, partnership, or closely-held
valuation
Alternate
date of
number
entity, give EIN.
Unit value
date
value
death
CUSIP number or
EIN, where
DRAFT AS OF
applicable
1
$60,000-Arkansas Railroad Co. first mortgage 4%, 20-year
bonds, due 2017. Interest payable quarterly on Feb. 1, May 1,
Aug. 1, and Nov. 1; N.Y. Exchange
XXXXXXXXX
100
- - - - - - -
$- - - - - - -
$ 60,000
. . . . . . . . . . . . . . . . .
Interest coupons attached to bonds, item 1, due and payable on
Nov. 1, 2015, but not cashed at date of death
- - - - - - -
- - - - - - -
- - - - - - -
600
June 16, 2016
. . . . . . . . . . .
Interest accrued on item 1, from Nov. 1, 2015, to Jan. 1,
2016
- - - - - - -
- - - - - - -
- - - - - - -
400
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
500 shares Public Service Corp., common; N.Y. Exchange
XXXXXXXXX
110
- - - - - - -
- - - - - - -
55,000
. .
Dividend on item 2 of $2 per share declared Dec. 10, 2015,
payable on Jan. 9, 2016, to holders of record on Dec. 30,
2015
- - - - - - -
- - - - - - -
- - - - - - -
1,000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Example showing use of Schedule B where the alternate valuation is adopted; date of death, January 1, 2016
Item
Description, including face amount of bonds or number of shares and par value where
Alternate
Value at
number
needed for identification. Give CUSIP number. If trust, partnership, or closely-held
valuation
Alternate
date of
entity, give EIN.
Unit value
date
value
death
CUSIP number or
EIN, where
applicable
1
$60,000-Arkansas Railroad Co. first mortgage 4%, 20-year bonds,
due 2017. Interest payable quarterly on Feb. 1, May 1, Aug. 1, and
Nov. 1; N.Y. Exchange
XXXXXXXXX
100
- - - - - -
$- - - - - -
$ 60,000
. . . . . . . . . . . . . . . . . . . . . . . .
$30,000 of item 1 distributed to legatees on Apr. 1, 2016
99
4/1/16
29,700
- - - - - -
. . . .
$30,000 of item 1 sold by executor on May 1, 2016
98
5/1/16
29,400
- - - - - -
. . . . . . .
Interest coupons attached to bonds, item 1, due and payable on
Nov. 1, 2015, but not cashed at date of death. Cashed by
executor on Feb. 2, 2016
- - - - - -
2/2/16
600
600
. . . . . . . . . . . . . . . . . . . . . . .
Interest accrued on item 1, from Nov. 1, 2015, to Jan. 1, 2016.
Cashed by executor on Feb. 2, 2016
- - - - - -
2/2/16
400
400
. . . . . . . . . . . . . . . .
2
500 shares Public Service Corp., common; N.Y. Exchange
XXXXXXXXX
110
- - - - - -
- - - - - -
55,000
. .
Not disposed of within 6 months following death
90
7/1/16
45,000
- - - - - -
. . . . . . . . .
Dividend on item 2 of $2 per share declared Dec. 10, 2015, paid
on Jan. 9, 2016, to holders of record on Dec. 30, 2015
- - - - - -
1/9/16
1,000
1,000
. . . . .
the entity in the description column on
by contacting the company's transfer
If there were no sales on the
Schedules B, E, F, G, M, and O. You
agent.
valuation date, figure the FMV as
must also provide the EIN of an estate
follows:
(if any) in the description column on the
1. Find the mean between the
Valuation
above-noted schedules, where
highest and lowest selling prices on the
List the FMV of the stocks or bonds. The
applicable.
nearest trading date before and the
FMV of a stock or bond (whether listed
nearest trading date after the valuation
The CUSIP (Committee on Uniform
or unlisted) is the mean between the
date. Both trading dates must be
Security Identification Procedure)
highest and lowest selling prices quoted
reasonably close to the valuation date.
number is a nine-digit number that is
on the valuation date. If only the closing
assigned to all stocks and bonds traded
2. Prorate the difference between
selling prices are available, then the
on major exchanges and many unlisted
the mean prices to the valuation date.
FMV is the mean between the quoted
securities. Usually, the CUSIP number
closing selling price on the valuation
3. Add or subtract (whichever
is printed on the face of the stock
date and on the trading day before the
applies) the prorated part of the
certificate. If you do not have a stock
valuation date.
difference to or from the mean price
certificate, the CUSIP may be found on
figured for the nearest trading date
the broker's or custodian's statement or
before the valuation date.
Part Instructions
-23-
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