Looking for a Form 706 Templates? Download it for free!

•

Form 709, United States Gift (and

Also consider the following:

Line 6b. Executor’s Address

•

Generation-Skipping Transfer) Tax

Form 706 has 28 numbered pages.

Use Form 8822 to report a change of

Return.

The pages are perforated so that you

the executor’s address.

•

Form 712, Life Insurance Statement.

can remove them for copying and filing.

•

Form 2848, Power of Attorney and

•

Line 6c. Executor’s Social

Number the items you list on each

Declaration of Representative.

schedule, beginning with the number

Security Number

•

Form 4768, Application for Extension

“1” each time, or using the numbering

Only individual executors should

of Time To File a Return and/or Pay

convention as indicated on the

complete this line. If there is more than

U.S. Estate (and Generation-Skipping

schedule (for example, Schedule M).

Transfer) Taxes.

one individual executor, all should list

•

Total the items listed on the schedule

•

their SSNs on an attached sheet.

Form 4808, Computation of Credit for

and its attachments, Continuation

Gift Tax.

Schedules, etc.

•

Form 8821, Tax Information

•

Enter the total of all attachments,

Part 2—Tax

Authorization.

•

Continuation Schedules, etc., at the

Form 8822, Change of Address.

Computation

bottom of the printed schedule, but do

Additional Information. The following

not carry the totals forward from one

In general, the estate tax is figured by

publications may assist you in learning

schedule to the next.

applying the unified rates shown in

about and preparing Form 706:

•

Enter the total, or totals, for each

Table A to the total of transfers both

•

Publication 559, Survivors,

schedule on page 3, Part

during life and at death, and then

Executors, and Administrators.

5 — Recapitulation.

subtracting the gift taxes.

•

Publication 910, IRS Guide to Free

•

Do not complete the “Alternate

Note. You must complete Part 2 — Tax

Tax Services.

•

valuation date” or “Alternate value”

Publication 950, Introduction to

Computation.

columns of any schedule unless you

Estate and Gift Taxes.

Line 1

elected alternate valuation on line 1 of

Note. For information about release of

Part 3 — Elections by the Executor.

If you elected alternate valuation on line

nonresident U.S. citizen decedents’

•

When you complete the return, staple

1, Part 3 — Elections by the Executor,

assets using transfer certificates under

all the required pages together in the

enter the amount you entered in the

Regulation 20.6325-1, write to:

proper order.

“Alternate value” column of item 12 of

Part 5 — Recapitulation. Otherwise,

Internal Revenue Service

enter the amount from the “Value at

Cincinnati, OH 45999

date of death” column.

Part 1—Decedent and

Stop 824G

Line 3b. State Death Tax

Executor

Deduction

Specific Instructions

Line 2

The estates of decedents dying

You must file the first three pages of

Enter the SSN assigned specifically to

after December 31, 2004, will be

Form 706 and all required schedules.

the decedent. You cannot use the SSN

allowed a deduction for state

CAUTION

File Schedules A through I, as

assigned to the decedent’s spouse. If

death taxes, instead of a credit. The

appropriate, to support the entries in

the decedent did not have an SSN, the

state death tax credit was repealed as

items 1 through 9 of Part

executor should obtain one for the

of January 1, 2005.

5 — Recapitulation.

decedent by filing Form SS-5, with a

You may take a deduction on line 3b

local Social Security Administration

for estate, inheritance, legacy, or

IF . . .

THEN . . .

office.

succession taxes paid as the result of

you enter zero on any

you need not file the

the decedent’s death to any state or the

Line 6a. Name of Executor

item of the

schedule (except for

District of Columbia.

Recapitulation,

Schedule F) referred to

If there is more than one executor,

You may claim an anticipated

on that item.

enter the name of the executor to be

amount of deduction and figure the

contacted by the IRS. List the other

federal estate tax on the return before

you claim an exclusion complete and attach

on item 11,

Schedule U.

executors’ names, addresses, and

the state death taxes have been paid.

SSNs (if applicable) on an attached

However, the deduction cannot be

you claim any

complete and attach the

sheet.

finally allowed unless you pay the state

deductions on items 13 appropriate schedules to

through 21 of the

support the claimed

Table A — Unified Rate Schedule

Recapitulation,

deductions.

you claim the credits

complete and attach

Column A

Column B

Column C

Column D

for foreign death taxes Schedule P or Q.

Taxable amount over

Taxable amount not

Tax on amount in

Rate of tax on excess

or tax on prior

transfers,

over

Column A

over amount in

Column A

there is not enough

attach a Continuation

$10,000

18%

space on a schedule to Schedule (or additional

list all the items,

sheets of the same size)

$10,000

20,000

$1,800

20%

to the back of the

20,000

40,000

3,800

22%

schedule;

40,000

60,000

8,200

24%

(see the Continuation

60,000

80,000

13,000

26%

Schedule at the end of

80,000

100,000

18,200

28%

Form 706);

100,000

150,000

23,800

30%

photocopy the blank

schedule before

150,000

250,000

38,800

32%

completing it, if you will

250,000

500,000

70,800

34%

need more than one

500,000

- - - -

155,800

35%

copy.

-4-

General, Specific, and Part Instructions

Instructions For Form 706 - United States Estate (And Generation-Skipping Transfer) Tax Return - 2011 Page 4

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