Form 85 0046e - Washington State Estate And Transfer Tax Return Page 19
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20Estate of:
Decedent’s Social Security Number
SCHEDULE U - Qualified Conservation Easement Exclusion
Part 1 - Election
Note: The executor is deemed to have made the election under IRC §2031(c)(6) if he or she files Schedule U and excludes any
qualifying conservation easements from the gross estate.
Part 2 - General Qualifications
1. Describe the land subject to the qualified conservation easement (see instructions)
2. Did the decedent or a member of the decedent’s family own the land described above during
the three-year period ending on the date of the decedent’s death? ..............................................................
Yes
No
3. Describe the conservation easement with regard to which the exclusion is being claimed (see instructions).
Part 3 - Computation of Exclusion
4. Estate tax value of the land subject to the qualified conservation easement
(see instructions) .................................................................................................................... 4.
5. Date of death value of any easements granted prior to decedent’s death and included on
line 10 below (see instructions) .............................................................................................. 5.
6. Add lines 4 and 5 .................................................................................................................... 6.
7. Value of retained development rights on the land (see instructions) ..................................... 7.
8. Subtract line 7 from line 6 ....................................................................................................... 8.
9. Multiply line 8 by 30% (.30) .................................................................................................... 9.
10. Value of qualified conservation easement for which the exclusion is being claimed
(see instructions) .................................................................................................................. 10.
Note: If line 10 is less than line 9, continue with line 11. If line 10 is equal to or more than
line 9, skip lines 11 through 13, enter “.40” on line 14, and complete the schedule.
11. Divide line 10 by line 8. Figure to 3 decimal places (for example, “.123”) .......................... 11.
Note: If line 11 is equal to or less than .100, stop here; the estate does not qualify for the
conservation easement exclusion.
12. Subtract line 11 from .300. Enter the answer in hundredths by rounding any thousandths
up to the next higher hundredth (that is, .030 = .03; but .031 = .04) .................................... 12.
13. Multiply line 12 by 2 .............................................................................................................. 13.
14. Subtract line 13 from .40 ...................................................................................................... 14.
15. Deduction under IRC §2055(f) for the conservation easement (see instructions) ............... 15.
16. Amount of indebtedness on the land (see instructions) ....................................................... 16.
17. Total reductions in value (add lines 7, 15, and 16) .............................................................. 17.
18. Net value of land (subtract line 17 from line 4) ..................................................................... 18.
19. Multiply line 18 by line 14 ..................................................................................................... 19.
20. Enter the smaller of line 19 or the exclusion limitation (see instructions).
(Also enter on Part 5 - Recapitulation, page 3, at item 11.) ................................................. 20.
85 0046e (10/16/12)
Schedule U - Page 19
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