Form Ia 706 - Iowa Inheritance/estate Tax Return

Iowa Department of Revenue

IA 706 Iowa Inheritance/Estate Tax Return

page 2

15. Marital status of decedent at death:

Married

Widow(er)

Single

Divorced

The relationship of decedent’s children to surviving spouse must be furnished if decedent died intestate.

16. Were any children born to or adopted by decedent after execution of Last Will?

Yes

In all cases of adoption, furnish copy of decree.

17. Decedent’s occupation before death:

18. Decedent died:

Testate. Submit copy of will.

Intestate

Estate has trust. Submit copy of trust.

19. Election of spouse: Submit copy of election

Under Will

Distributive Share

20. Was a disclaimer filed? If yes, submit copy of disclaimer.

Yes

21. Do you elect the special use valuation?

Yes

22. Was a federal estate tax return filed? If yes, submit copy.

Yes

23. Do you elect to claim qualified terminal interest property (QTIP) under Iowa Code 450.3(7) and

IRC section 2056(b)(7)(B)? If yes, attach copy of Schedule M of federal estate tax return.

Yes

24. Do you elect to pay the federal estate tax in installments as described in IRC section 6166?

Yes

25. Do you elect the alternate valuations under Iowa Code section 450.37 (IRC section 2032)?

Yes

SUMMARY OF GROSS ESTATE

Attach applicable schedules only. Federal schedules may be used in place of Iowa schedules.

Alternate

Value at Date

Schedule

Value

of Death

26. A—Real Estate ............................................................................................ 26 _______________________________

27. B—Stocks and Bonds ................................................................................. 27 _______________________________

28. C—Mortgages, Notes, and Cash ................................................................ 28 _______________________________

29. D—Insurance on the Decedent’s Life. Attach federal form(s) 712. ............. 29 _______________________________

30. E—Jointly Owned Property ......................................................................... 30 _______________________________

31. F—Other Miscellaneous Property ............................................................... 31 _______________________________

32. G—Transfers During Decedent’s Life ......................................................... 32 _______________________________

33. H—Powers of Appointment ......................................................................... 33 _______________________________

34. I—Annuities and Section 529 Plans .......................................................... 34 _______________________________

35. TOTAL GROSS ESTATE. Add items 26 through 34

Total must equal line 3, page 1. .................................................................. 35 _______________________________

SUMMARY OF DEDUCTIONS — Attach Schedules J and K.

Schedule

Amount

36. J—Funeral Expenses and Expenses Incurred in Administering Property in Gross Estate ........ 36 _______________

37. K—Debts of Decedent ................................................................................................................ 37 _______________

38. K—Mortgages and Liens ............................................................................................................ 38 _______________

39. TOTAL DEDUCTIONS. Add items 36 through 38. Enter here and on page 1, line 4. ................ 39 _______________

SUMMARY OF REAL AND PERSONAL PROPERTY LOCATED OUTSIDE OF IOWA NOT INCLUDED IN LINES 26-34

Note: This information is required.

ITEM—Description

REAL

PERSONAL

Include taxable intangible property in Schedules B through I.

TOTAL

*1360008029999*