Form 706 - United States Estate (And Generation-Skipping Transfer) Tax Return (Page 27 of 41) in pdf

Form 706 (Rev. 8-93)

Estate of:

SCHEDULE M—Bequests, etc., to Surviving Spouse

Election To Deduct Qualified Terminable Interest Property Under Section 2056(b)(7).—If a trust (or other property) meets the

requirements of qualified terminable interest property under section 2056(b)(7), and

a. The trust or other property is listed on Schedule M, and

b. The value of the trust (or other property) is entered in whole or in part as a deduction on Schedule M,

then unless the executor specifically identifies the trust (all or a fractional portion or percentage) or other property to be

excluded from the election the executor shall be deemed to have made an election to have such trust (or other property) treated

as qualified terminable interest property under section 2056(b)(7).

If less than the entire value of the trust (or other property) that the executor has included in the gross estate is entered as a

deduction on Schedule M, the executor shall be considered to have made an election only as to a fraction of the trust (or other

property). The numerator of this fraction is equal to the amount of the trust (or other property) deducted on Schedule M. The

denominator is equal to the total value of the trust (or other property).

Election To Deduct Qualified Domestic Trust Property Under Section 2056A.—If a trust meets the requirements of a qualified

domestic trust under section 2056A(a) and this return is filed no later than 1 year after the time prescribed by law (including

extensions) for filing the return, and

a. The entire value of a trust or trust property is listed on Schedule M, and

b. The entire value of the trust or trust property is entered as a deduction on Schedule M,

then unless the executor specifically identifies the trust to be excluded from the election, the executor shall be deemed to have

made an election to have the entire trust treated as qualified domestic trust property.

Yes

Did any property pass to the surviving spouse as a result of a qualified disclaimer?

If ‘‘Yes,’’ attach a copy of the written disclaimer required by section 2518(b).

In what country was the surviving spouse born?

What is the surviving spouse’s date of birth?

Is the surviving spouse a U.S. citizen?

If the surviving spouse is a naturalized citizen, when did the surviving spouse acquire citizenship?

If the surviving spouse is not a U.S. citizen, of what country is the surviving spouse a citizen?

Election out of QTIP Treatment of Annuities.—Do you elect under section 2056(b)(7)(C)(ii) not to treat as

qualified terminable interest property any joint and survivor annuities that are included in the gross estate and

would otherwise be treated as qualified terminable interest property under section 2056(b)(7)(C)? (see instructions)

Item

Description of property interests passing to surviving spouse

Amount

number

Total from continuation schedule(s) (or additional sheet(s)) attached to this schedule

Total amount of property interests listed on Schedule M

Federal estate taxes (including section 4980A taxes) payable out of property

interests listed on Schedule M

Other death taxes payable out of property interests listed on Schedule M

Federal and state GST taxes payable out of property interests listed on

Schedule M

Add items a, b, and c

Net amount of property interests listed on Schedule M (subtract 5d from 4). Also enter on Part 5,

Recapitulation, page 3, at item 18

(If more space is needed, attach the continuation schedule from the end of this package or additional sheets of the same size.)

(See the instructions on the reverse side.)

Schedule M—Page 27

Form 706 - United States Estate (And Generation-Skipping Transfer) Tax Return Page 27

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