Instructions For Form It-1 - Inheritance Tax

Line 4 worksheet. Adjusted taxable gifts made after 1976

1. Taxable gifts made after 1976. Enter the amount from column b, Worksheet TG ...................................................... 1.

2. Taxable gifts made after 1976 reportable on Schedule G. Enter the amount from

line 2, column c, Worksheet TG ..................................................................................2.

3. Taxable gifts made after 1976 that qualify for “special treatment.” Enter the

amount from line 2, column d, Worksheet TG .............................................................3.

4. Add lines 2 and 3 ......................................................................................................................................................... 4.

5. Adjusted taxable gifts. Subtract line 4 from line 1. Enter here and on Form IT-1, part 2, line 4 ....................................... 5.

Line 9 worksheet. Gift tax on gifts made after 1976

Calendar year or

Total taxable gifts

calendar quarter

for prior periods

(from Form 709, Tax

Taxable gifts for

Tax payable using

Unused unified credit

Tax payable for this period

Computation, line 2)

this period (from Form

Table A (see below)

(applicable credit

(subtract column e from

709, Tax Computation,

amount) for this period

column d)

Total pre-1977 taxable

line 1) (see below)

(see below)

gifts. Enter the

amount from line 1,

Worksheet TG

1. Total gift taxes payable on gifts made after 1976 (combine the amounts in column f) ............................................... 1.

2. Gift taxes paid by the decedent on gifts that qualify for “special treatment.” Enter the amount from line 2,

column e, Worksheet TG ............................................................................................................................................. 2.

3. Subtract line 2 from line 1 ............................................................................................................................................ 3.

4. Gift tax paid by decedent’s spouse on split gifts included on Schedule G. Enter the amount from line 2,

column f, Worksheet TG .............................................................................................................................................. 4.

5. Add lines 3 and 4. Enter here and on Form IT-1, part 2, line 9 .................................................................................... 5.

Columns b and c. In addition to gifts reported on Form 709, you must include in these columns any taxable gifts in excess of the annual

exclusion that were not reported on Form 709.

Column d. To figure the “tax payable” for this column, you must use Table A in these instructions, as it applies to the year of

the decedent’s death rather than to the year the gifts were actually made. To compute the entry for column d, you should figure the

“tax payable” on the amount in column b and subtract it from the “tax payable” on the amounts in columns b and c added

together. Enter the difference in column d.

“Tax payable” as used here is a hypothetical amount and does not necessarily reflect tax actually paid. Figure “tax payable”

only on gifts made after 1976. Do not include any tax paid or payable on gifts made before 1977. Pre-1977 gifts are listed only

to exclude them from the calculation.

To calculate the tax, enter the amount for the appropriate year from column c of the worksheet on line 1 of the Tax Compu-

tation of the Form 709. Enter the amount from column b on line 2 of the Tax Computation. Complete the Tax Computation

through the tax due before any reduction for the unified credit (applicable credit amount) and enter that amount in column

d, above.

Column e. To figure the unused unified credit (applicable credit amount), use the unified credit (applicable credit amount)

in effect for the year the gift was made. This amount should be on line 12 of the Tax Computation of the Form 709 filed for

the gift.

150-103-001 (Rev. 08-11)

Instructions For Form It-1 - Inheritance Tax - 2011 Page 5

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