Form Dp-145 - Legacy And Succession Tax Return General Instructions (Page 5 of 5) in pdf

Form Dp-145 - Legacy And Succession Tax Return General Instructions Page 5

Legacy and Succession Tax Return

FORM

LINE-BY-LINE INSTRUCTIONS

DP-145

Instructions

PAGE 3 LINE-BY-LINE INSTRUCTIONS

Line 21 -

A deduction is allowed for Legacy and Succession taxes to be paid ONLY when the will directs the estate to pay

Legacy and Succession taxes. If the will directs the payment of these taxes, then enter on line 21(a) the amount of

specific bequests, from Schedule A, line 8 and multiply this amount by 18%. Enter on line 21(b) the amount of gifts,

transfers, and joint tenancies, from Schedule A, line 16 and multiply this amount by 18%. Enter on line 21(c) the sum of

lines 21(a) and 21(b). If the will does not direct the payment of Legacy and Succession taxes, then enter 0 on line 21(c).

Line 22 -

Enter the estate tax paid to the Internal Revenue Service per Federal Form 706, line 21.

Line 23 -

Enter the sum of lines 13 - 22.

Line 24 -

Enter the amount of line 12 minus line 23. Also enter this amount under the Rest and Residue column on Schedule A,

lines 17 -21, if applicable.

COMPLETE SCHEDULE A, PART III BEFORE COMPLETING LINE 25

Line 25 -

Enter the non-taxable portion of the rest and residue from Schedule A, line 23.

Line 26 -

Enter the amount of line 24 less line 25.

RETURN TO STEP 5 OF THE LINE BY LINE INSTRUCTIONS

Form Dp-145 - Legacy And Succession Tax Return General Instructions Page 5