Form 706 - United States Estate (And Generation-Skipping Transfer) Tax Return Page 33
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41Form 706 (Rev. 8-93)
SCHEDULE R—Generation-Skipping Transfer Tax
Note: To avoid application of the deemed allocation rules, For m 706 and Schedule R should be filed to allocate the GST exemption
to trusts that may later have taxable terminations or distr ibutions under section 2612 even if the for m is not required to be
filed to report estate or GST tax.
The GST tax is imposed on taxable transfers of interests in property located outside the United States as well as property
located inside the United States.
Part 1.—GST Exemption Reconciliation (Section 2631) and Section 2652(a)(3) (Special QTIP) Election
Check box
if you are making a section 2652(a)(3) (special QTIP) election (see instructions)
1
$1,000,000
1
Maximum allowable GST exemption
2
2
Total GST exemption allocated by the decedent against decedent’s lifetime transfers
3
Total GST exemption allocated by the executor, using Form 709, against decedent’s lifetime
3
transfers
4
4
GST exemption allocated on line 6 of Schedule R, Part 2
5
5
GST exemption allocated on line 6 of Schedule R, Part 3
6
6
Total GST exemption allocated on line 4 of Schedule(s) R-1
7
7
Total GST exemption allocated to intervivos transfers and direct skips (add lines 2–6)
8
GST exemption available to allocate to trusts and section 2032A interests (subtract line 7 from
8
line 1)
Allocation of GST exemption to trusts (as defined for GST tax purposes):
9
A
B
C
D
E
Additional GST
Trust’s inclusion
GST exemption
Name of trust
Trust’s
exemption allocated
ratio (optional—see
allocated on lines 2–6,
EIN (if any)
(see instructions)
instructions)
above (see instructions)
9D
9D
Total. May not exceed line 8, above
10
GST exemption available to allocate to section 2032A interests received by individual beneficiaries
(subtract line 9D from line 8). You must attach special use allocation schedule (see instructions)
10
Schedule R—Page 33
(The instructions to Schedule R are in the separate instructions.)
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