Instructions For Form 706 - 2016
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54Instructions for Form 706
Department of the Treasury
Internal Revenue Service
(Rev. November 2016)
For decedents dying after December 31, 2015
United States Estate (and Generation-Skipping Transfer) Tax Return
Contents
Page
Contents
Page
Section references are to the Internal Revenue
Code unless otherwise noted.
Part 3—Elections by the
Checklist . . . . . . . . . . . . . . . . . . .
53
Executor . . . . . . . . . . . . . .
10
Prior Revisions of Form 706
Future Developments
Part 4—General Information . . .
16
Part 5—Recapitulation . . . . . . .
17
For Decedents Dying
Use
For the latest information about
Part 6—Portability of
Revision of
developments related to Form 706 and
Deceased Spousal
Form 706
Unused Exclusion
its instructions, such as legislation
After
and Before
Dated
(DSUE) . . . . . . . . . . . . . . .
18
enacted after they were published, go to
December 31,
January 1,
July 1999
Schedule A—Real Estate . . . . .
19
1998
2001
Schedule A-1—Section
December 31,
January 1,
November
2032A Valuation . . . . . . . . .
20
2000
2002
2001
Schedule B—Stocks and
What's New
December 31,
January 1,
August
Bonds . . . . . . . . . . . . . . . .
22
2001
2003
2002
Schedule C—Mortgages,
December 31,
January 1,
August
Various dollar amounts and limitations
Notes, and Cash . . . . . . . . .
24
2002
2004
2003
in the Form 706 are indexed for inflation.
Schedule D—Insurance on
December 31,
January 1,
August
For decedents dying in 2016, the
the Decedent's Life . . . . . . .
25
2003
2005
2004
following amounts are applicable:
Schedule E—Jointly Owned
December 31,
January 1,
August
The basic exclusion amount is
Property . . . . . . . . . . . . . .
25
2004
2006
2005
$5,450,000.
December 31,
January 1,
October
Schedule F—Other
The ceiling on special-use valuation
Miscellaneous Property . . . .
26
2005
2007
2006
is $1,110,000.
December 31,
January 1,
September
Decedent Who Was a
The amount used in figuring the 2%
2006
2008
2007
Surviving Spouse . . . . . . . .
27
December 31,
January 1,
August
portion of estate tax payable in
Schedule G—Transfers
2007
2009
2008
During Decedent's Life . . . . .
27
installments is $1,480,000.
December 31,
January 1,
September
Schedule H—Powers of
The IRS will publish amounts for future
2008
2010
2009
Appointment . . . . . . . . . . .
29
years in annual revenue procedures.
December 31,
January 1,
July 2011
Schedule I—Annuities . . . . . . .
30
2009
2011
Schedule J—Funeral
Same sex marriages. For federal tax
December 31,
January 1,
August
Expenses and Expenses
purposes, marriages of couples of the
2010
2012
2011
Incurred in Administering
same sex are treated the same as
December 31,
January 1,
August
Property Subject to
marriages of couples of the opposite
2011
2013
2012
Claims . . . . . . . . . . . . . . .
32
December 31,
January 1,
August
sex. The term “spouse” includes an
Schedule K—Debts of the
2012
2017
2013
individual married to a person of the
Decedent and Mortgages
and Liens . . . . . . . . . . . . .
33
same sex. However, individuals who
Contents
Page
have entered into a registered domestic
Schedule L—Net Losses
During Administration
partnership, civil union, or other similar
Reminders . . . . . . . . . . . . . . . . . . .
2
and Expenses Incurred in
relationship that isn’t considered a
General Instructions . . . . . . . . . . . . .
2
Administering Property
marriage under state law aren’t
Purpose of Form . . . . . . . . . . . .
2
Not Subject to Claims . . . . . .
34
considered married for federal tax
Which Estates Must File . . . . . . .
2
Schedule M—Bequests,
purposes. If you believe the new law
etc., to Surviving Spouse
Executor . . . . . . . . . . . . . . . . .
3
may affect your estate or gift tax liability
(Marital Deduction) . . . . . . .
35
When To File . . . . . . . . . . . . . .
3
or filing requirement, please continue to
Schedule O—Charitable,
Where To File . . . . . . . . . . . . . .
3
Public, and Similar Gifts
monitor
IRS.gov
for additional guidance.
Paying the Tax . . . . . . . . . . . . .
3
and Bequests . . . . . . . . . . .
38
Signature and Verification . . . . . .
4
Final regulations on portability. Final
Schedule P—Credit for
regulations regarding portability of the
Amending Form 706 . . . . . . . . .
4
Foreign Death Taxes . . . . . .
39
deceased spousal unused exclusion
Supplemental Documents . . . . . .
4
Schedule Q—Credit for Tax
(DSUE) amount were published in the
Rounding Off to Whole
on Prior Transfers . . . . . . . .
40
Dollars . . . . . . . . . . . . . . . .
4
Federal Register on Tuesday, June 16,
Schedules R and R-1 –
Penalties . . . . . . . . . . . . . . . . .
4
Generation-Skipping
2015. The final regulations are effective
Transfer Tax
. . . . . . . . . . .
43
Obtaining Forms and
for dates of death and gifts on or after
Publications To File or
Schedule U—Qualified
June 12, 2015. See Treasury Decision
Use . . . . . . . . . . . . . . . . . .
5
Conservation Easement
9725, available at
Exclusion
. . . . . . . . . . . . .
47
Specific Instructions . . . . . . . . . . . . .
5
irbs/irb15-26.pdf.
Schedule PC—Protective
Part 1—Decedent and
Claim for Refund . . . . . . . . .
49
Consistent basis reporting. On July
Executor . . . . . . . . . . . . . . .
6
Continuation Schedule . . . . . . .
50
31, 2015, the Surface Transportation
Part 2—Tax Computation . . . . . .
6
Index . . . . . . . . . . . . . . . . . . . . .
52
and Veterans Health Care Choice
Sep 01, 2016
Cat. No. 16779E
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