Form M706 - Estate Tax Return - 2016 Page 3
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3M706 2016, page 3
number
Decedent’s first name, middle initial
Decedent’s last name
Decedent’s Social Security
Worksheets
Worksheet A - To Determine Line 7
1 Description of Minnesota-Only QTIP property
Value
$
2 Total from continuation schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2
3 Total amount of Minnesota-Only QTIP Property. Enter the amount here and on line 7 of Form M706 . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Worksheet B - To Determine Line 11
1
Minnesota gross estate (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Value of gifts included on Line 2b from page 1 of Minnesota Form M706 with a Minnesota situs (see instructions) . . . . . . . . . . . . .2
2
3
Add steps 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
4
Federal gross estate (from Federal Form 706, line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
5
Total value of all gifts reported on Line 2b from page 1 of Form M706 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
6
Add steps 4 and 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
7
Divide step 3 by step 6 (round to five decimal places) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Worksheet C - to determine interest on Line 17
Interest accrues on any unpaid tax and penalty beginning nine months from the decedent’s date of death.
1
Amount of tax not paid within nine months after the decedent’s date of death . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2
Unpaid penalty, if any, from line 16 on the front of this form . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3
Unpaid tax and penalty on which interest will accrue (add step 1 and step 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4
Number of days that your payment of tax and/or penalty is late.
Year: 2016
Year: 2017
If the days fall in more than one calendar year, you must
determine the number of days separately for each year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
.
.
5
Divide step 4 by 365. Round the result to five decimal places . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6
Multiply step 3 by the result in step 5 for each year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
3%
4%
7
Interest rate in effect for the calendar year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Multiply step 6 by the interest rate in step 7 for each year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
8
9
Add the amounts in step 8. Also enter the result on line 17 of Form M706 . . . . . . . . . . . . . . . . . . . . . . 9
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