Instructions For Form 706 - United States Estate (And Generation-Skipping Transfer) Tax Return Page 24
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55Schedule B Examples
Example showing use of Schedule B where the alternate valuation is not adopted; date of death, January 1, 2017
Description, including face amount of bonds or number of shares and par value where
Alternate
Value at
Item
needed for identification. Give CUSIP number. If trust, partnership, or closely-held
valuation
Alternate
date of
number
entity, give EIN.
Unit value
date
value
death
CUSIP number or
EIN, where
applicable
1
$60,000-Arkansas Railroad Co. first mortgage 4%, 20-year
bonds, due 2018. Interest payable quarterly on Feb. 1, May 1,
Aug. 1, and Nov. 1; N.Y. Exchange
XXXXXXXXX
100
- - - - - - -
$- - - - - - -
$ 60,000
. . . . . . . . . . . . . . . . .
Interest coupons attached to bonds, item 1, due and payable on
Nov. 1, 2016, but not cashed at date of death
- - - - - - -
- - - - - - -
- - - - - - -
600
. . . . . . . . . . .
Interest accrued on item 1, from Nov. 1, 2016, to Jan. 1,
2017
- - - - - - -
- - - - - - -
- - - - - - -
400
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
500 shares Public Service Corp., common; N.Y. Exchange
XXXXXXXXX
110
- - - - - - -
- - - - - - -
55,000
. .
Dividend on item 2 of $2 per share declared Dec. 10, 2016,
payable on Jan. 9, 2017, to holders of record on Dec. 30,
2016
- - - - - - -
- - - - - - -
- - - - - - -
1,000
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Example showing use of Schedule B where the alternate valuation is adopted; date of death, January 1, 2017
Item
Description, including face amount of bonds or number of shares and par value where
Alternate
Value at
number
needed for identification. Give CUSIP number. If trust, partnership, or closely-held
valuation
Alternate
date of
entity, give EIN.
Unit value
date
value
death
CUSIP number or
EIN, where
applicable
1
$60,000-Arkansas Railroad Co. first mortgage 4%, 20-year bonds,
due 2018. Interest payable quarterly on Feb. 1, May 1, Aug. 1, and
Nov. 1; N.Y. Exchange
XXXXXXXXX
100
- - - - - -
$- - - - - -
$ 60,000
. . . . . . . . . . . . . . . . . . . . . . . .
$30,000 of item 1 distributed to legatees on Apr. 1, 2017
99
4/1/17
29,700
- - - - - -
. . . .
$30,000 of item 1 sold by executor on May 1, 2017
98
5/1/17
29,400
- - - - - -
. . . . . . .
Interest coupons attached to bonds, item 1, due and payable on
Nov. 1, 2016, but not cashed at date of death. Cashed by
executor on Feb. 2, 2017
- - - - - -
2/2/17
600
600
. . . . . . . . . . . . . . . . . . . . . . .
Interest accrued on item 1, from Nov. 1, 2016, to Jan. 1, 2017.
Cashed by executor on Feb. 2, 2017
- - - - - -
2/2/17
400
400
. . . . . . . . . . . . . . . .
2
500 shares Public Service Corp., common; N.Y. Exchange
XXXXXXXXX
110
- - - - - -
- - - - - -
55,000
. .
Not disposed of within 6 months following death
90
7/1/17
45,000
- - - - - -
. . . . . . . . .
Dividend on item 2 of $2 per share declared Dec. 10, 2016, paid
on Jan. 9, 2017, to holders of record on Dec. 30, 2016
- - - - - -
1/9/17
1,000
1,000
. . . . .
letters furnishing these quotations or
Complete Schedule C and file it with
List the items on Schedule C in the
evidence of sale.
your return if the total gross estate
following order.
contains any:
1. Mortgages.
Schedule C—Mortgages,
Mortgages,
2. Promissory notes.
Notes, and Cash
Notes, or
3. Contracts by decedent to sell
Cash.
land.
If any assets to which the
List on Schedule C:
special rule of Regulations
!
4. Cash in possession.
Mortgages and notes payable to the
section 20.2010-2(a)(7)(ii)
5. Cash in banks, savings and loan
CAUTION
decedent at the time of death.
applies are reported on this schedule,
associations, and other types of
Cash the decedent had at the date of
do not enter any value in the last three
financial organizations.
death.
columns. See instructions for line 10 of
Part 5—Recapitulation for information
What to enter in the “Description”
Note. Do not list mortgages and notes
on how to estimate and report the value
column:
payable by the decedent on
of these assets.
For mortgages, list:
Schedule C. (If these are deductible, list
Face value,
them on Schedule K.)
-24-
Part Instructions
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