Form 706 - United States Estate (And Generation-Skipping Transfer) Tax Return Page 20
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41Form 706 (Rev. 8-93)
Instructions for Schedule F.—Other
Household goods and personal effects, including
wearing apparel
Miscellaneous Property
Farm products and growing crops
You must complete Schedule F and file it with the
Livestock
return.
Farm machinery
On Schedule F list all items that must be included in
Automobiles
the gross estate that are not reported on any other
schedule, including:
If the decedent owned any interest in a partnership
or unincorporated business, attach a statement of
Debts due the decedent (other than notes and
assets and liabilities for the valuation date and for the
mortgages included on Schedule C)
5 years before the valuation date. Also attach
Interests in business
statements of the net earnings for the same 5 years.
Insurance on the life of another (obtain and attach
You must account for goodwill in the valuation. In
Form 712, Life Insurance Statement, for each
general, furnish the same information and follow the
policy)
methods used to value close corporations. See the
Note for single premium or paid-up policies: In
instructions for Schedule B.
certain situations, for example where the surrender
All partnership interests should be reported on
value of the policy exceeds its replacement cost, the
Schedule F unless the partnership interest, itself, is
true economic value of the policy will be greater
jointly owned. Jointly owned partnership interests
than the amount shown on line 56 of Form 712. In
should be reported on Schedule E.
these situations, you should report the full economic
If real estate is owned by the sole proprietorship, it
value of the policy on Schedule F. See Rev. Rul.
should be reported on Schedule F and not on
78-137, 1978-1 C.B. 280 for details.
Schedule A. Describe the real estate with the same
Section 2044 property
detail required for Schedule A.
Claims (including the value of the decedent’s
Line 1.—If the decedent owned at the date of death
interest in a claim for refund of income taxes or the
articles with artistic or intrinsic value (e.g., jewelry, furs,
amount of the refund actually received)
silverware, books, statuary, vases, oriental rugs, coin or
Rights
stamp collections), check the “Yes” box on line 1 and
provide full details. If any one article is valued at more
Royalties
than $3,000, or any collection of similar articles is
Leaseholds
valued at more than $10,000, attach an appraisal by
Judgments
an expert under oath and the required statement
Reversionary or remainder interests
regarding the appraiser’s qualifications (see
Regulations section 20.2031-6(b)).
Shares in trust funds (attach a copy of the trust
instrument)
Schedule F—Page 20
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