Form Ri-100a - Rhode Island Estate Tax Return Page 20
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22Rhode Island Schedule T - Qualified Family-Owned Business interest
Deduction (continued)
Decedent's name
Decedent's social security number
Section 3 - Adjusted Value of Qualified Family-Owned Business Interests
5.
Qualified family-owned business interests reported on this return.
Note: All property listed on line 5 must also be entered on Schedule A, B, C, E, F, G or H, as applicable.
A
B
C
Schedule and item number
Description of business interest
Reported value
and principle place of business
from Form RI-100A
6. Total reported value…………………………………………………………………………………………………………………………
6.
7. Amount of claims or mortgages deductible under IRC section 2053(a)(3) or (4)………………
7.
a.
8
Enter the amount of any indebtedness on qualified
residence of the decedent……………………………………
8a.
b. Enter the amount of any indebtedness used for
educational or medical expenses……………………………
8b.
c. Enter the amount of any indebtedness other than that
listed on line 8a or 8b, but do not enter more than
$10,000…………………………………………………………
8c.
d Total. Add lines 8a, 8b and 8c……………………………………………………………………
8d.
9. Subtract line 8d from line 7…………………………………………………………………………………………………………………
9.
10. Adjusted value of qualified family-owned business interests. Subtract line 9 from line 6……………………………………………
10.
Section 4 - Qualifying Estate
11. Includable gifts of qualified family-owned business interests
a. Amount of gifts taken into account under IRC Section 2001(b)(1)(B)…………………………
11a.
b. Amount of such gifts excluded under IRC section 2503(b)……………………………………
11b.
c. Add lines 11a and 11b…………………………………………………………………………………………………………………
11c.
12. Add lines 10 and 11c…………………………………………………………………………………………………………………………
12.
13. Adjusted gross estate
a. Amount of gross estate………………………………………
13a.
b. Enter amount from line 7 above……………………………
13b.
c. Subtract line 13b from 13a…………………………………………………………………………
13c.
d. Enter amount from line 11c above…………………………
13d.
e. Enter the amount of transfers, if any, to the
decedent's spouse……………………………………………
13e.
f. Enter the amount of other gifts………………………………
13f.
g. Add lines 13d, 13e and 13f…………………………………
13g.
h. Enter amounts from line 13g that are otherwise
includable in the gross estate………………………………
13h.
i.
Subtract line 13h from 13g…………………………………………………………………………
13i.
j.
Adjusted gross estate. Add lines 13c and 13i………………………………………………………………………………………
13j.
14. Enter one-half of the amount on line 13j…………………………………………………………………………………………….
14.
Note: If line 12 does not exceed line 14, stop here; the estate does not qualify for the deduction. Otherwise, complete line 15
15. Net value of qualified family-owned business interests you elect to deduct (line 10 reduced by any marital or other
deductions). DO NOT enter more than $675,000 (attach schedule). Enter here and on page 3, part 8, line 22…………………
15.
Page 20
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