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Instructions for Form 706 2006 Tax Year

Index

This is archived information that pertains only to the 2006 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

A

Address, executor, Line 6b. Executor's Address
Alternate valuation, Line 1. Alternate Valuation
Amending Form 706, Amending Form 706
Annuities, Schedule I—Annuities
Applicable credit amount, Line 9. Maximum Unified Credit (applicable credit amount)
Authorization, Authorization

B

Bequests, Schedule O—Charitable, Public, and Similar Gifts and Bequests
Bonds, Schedule B—Stocks and Bonds

C

Canadian marital credit, Canadian marital credit.
Close corporations, Line 10. Partnership Interests and Stock in Close Corporations
Conservation purpose, Conservation purpose.
Continuation Schedule (see Continuation Schedule on Form 706)
Credit for foreign death taxes, Schedule P—Credit for Foreign Death Taxes
Credit for tax on prior transfers, Schedule Q—Credit for Tax on Prior Transfers

D

Death certificate, Supplemental Documents
Debts of the decedent, Debts of the Decedent
Debts, mortgages and liens, Schedule K—Debts of the Decedent and Mortgages and Liens
Deductions, Deductions
Direct skips, Determining Which Transfers Are Direct Skips
Disclaimer, qualified, Line 2. Qualified Disclaimer
Documents, supplemental, Supplemental Documents

E

Election, Making the Election, Making the election.
Election, lump sum distribution, Line A. Lump Sum Distribution Election
Exclusion, Exclusion
Executor, Executor, Line 6a. Name of Executor
Expenses, losses, Schedule L—Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims

F

Forms and publications, obtaining, Obtaining Forms and Publications To File or Use

G

General Information, Part 4—General Information (Pages 2 and 3 of Form 706)
General Instructions, General Instructions
Generation-skipping transfer tax, Schedules R and R-1—Generation-Skipping Transfer Tax
Gifts and bequests, Schedule O—Charitable, Public, and Similar Gifts and Bequests
Gross estate, Gross Estate, Gross Estate

I

Inclusion ratio for trust, Line 9, column E. Trust's inclusion ratio.
Installment payments, Line 3. Installment Payments
Insurance, Line 8. Insurance Not Included in the Gross Estate
Interests, reversionary or remainder, Line 4. Reversionary or Remainder Interests

L

Liens, Mortgages and Liens
Losses, expenses, Schedule L—Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims
Lump sum distribution election, Line A. Lump Sum Distribution Election

M

Marital deduction computation, transitional, Line 14. Transitional Marital Deduction Computation
Material participation, Material Participation
Member of family, Qualified heir., Member of Family
Mortgages and liens, Mortgages and Liens

N

Nonresident Noncitizens, U. S. Citizens or Residents; Nonresident Noncitizens

P

Part 1, Decedent and Executor, Part 1—Decedent and Executor (Page 1 of Form 706)
Part 2. Tax Computation, Part 2—Tax Computation (Page 1 of Form 706)
Part 3. Elections by the Executor, Part 3—Elections by the Executor (Page 2 of Form 706)
Part 4. General Information, Part 4—General Information (Pages 2 and 3 of Form 706)
Part 5. Recapitulation, Part 5—Recapitulation (Page 3 of Form 706)
Paying the Tax, Paying the Tax
Payments, installment, Line 3. Installment Payments
Penalties, Penalties
Powers of appointment, Powers of Appointment
Privacy Act and Paperwork Reduction Act Notice, Privacy Act and Paperwork Reduction Act Notice.
Private delivery services, When To File
Property, section 2044, Line 6. Section 2044 Property
Publications, obtaining, Obtaining Forms and Publications To File or Use
Purpose of Form, Purpose of Form

Q

Qualified conservation easement exclusion, Schedule U—Qualified Conservation Easement Exclusion
Qualified heir, Qualified heir.
Qualified real property, Qualified Real Property

R

Real property interest, qualified, Qualified real property interest.
Real property, qualified, Qualified Real Property
Recapitulation, Part 5—Recapitulation (Page 3 of Form 706)
Residents of U. S. Possessions, Residents of U. S. Possessions
Rounding off to whole dollars, Rounding Off to Whole Dollars

S

Schedule A Real Estate (see reverse side of Sch. A on Form 706)
Schedule A-1 Section 2032A Valuation (see Sch. A-1 on Form 706)
Schedule B Stocks and Bonds, Schedule B—Stocks and Bonds
Schedule C Mortgages, notes, and cash (see reverse side of Sch. C on Form 706)
Schedule D Insurance (see reverse side of Sch. D on Form 706)
Schedule E Jointly owned property (see reverse side of Sch. E on Form 706)
Schedule F. Other miscellaneous property (see reverse side of Sch. F on Form 706)
Schedule G Transfers during decedent's life, Schedule G—Transfers During Decedent's Life
Schedule G, how to complete, How To Complete Schedule G
Schedule H Powers of appointment, Schedule H—Powers of Appointment
Schedule I Annuities, Schedule I—Annuities
Schedule I, how to complete, How To Complete Schedule I
Schedule J Expenses (see reverse side of Sch. J on Form 706)
Schedule K Debts, Schedule K—Debts of the Decedent and Mortgages and Liens
Schedule L Losses, expenses during administration, Schedule L—Net Losses During Administration and Expenses Incurred in Administering Property Not Subject to Claims
Schedule M (Marital deduction) (see instructions in the Form 706, itself)
Schedule O Gifts and bequests, Schedule O—Charitable, Public, and Similar Gifts and Bequests
Schedule P Foreign death taxes, Schedule P—Credit for Foreign Death Taxes
Schedule Q Prior transfers, credit for, Schedule Q—Credit for Tax on Prior Transfers
Schedule R and R-1 Generation-skipping transfer tax, Schedules R and R-1—Generation-Skipping Transfer Tax
Schedule R, how to complete, How To Complete Schedules R and R-1, How To Complete Schedule R
Schedule R-1, how to complete, How To Complete Schedules R and R-1, How To Complete Schedule R-1
Schedule U Qualified conservation easement exclusion, Schedule U—Qualified Conservation Easement Exclusion
Schedules R and R-1, direct skips, Dividing Direct Skips Between Schedules R and R-1
Section 2032A, Line 2. Special-Use Valuation of Section 2032A, Schedule A-1—Section 2032A Valuation
Section 2035(a) transfers, Schedule G—Transfers During Decedent's Life
Section 2036 transfers, Schedule G—Transfers During Decedent's Life
Section 2037 transfers, Schedule G—Transfers During Decedent's Life
Section 2038 transfers, Schedule G—Transfers During Decedent's Life
Signature and verification, Signature and Verification
Social security number, Line 2, Line 6c. Executor's Social Security Number
special-use valuation of Section 2032A, Line 2. Special-Use Valuation of Section 2032A
Specific Instructions, Specific Instructions
Stocks, Schedule B—Stocks and Bonds

T

Table A, Unified Rate Schedule, Part 2—Tax Computation (Page 1 of Form 706)
Tax Computation, Part 2—Tax Computation (Page 1 of Form 706)
Taxes, foreign death, Schedule P—Credit for Foreign Death Taxes
Total Credits, Line 15. Total Credits
Transfers, direct skips, Determining Which Transfers Are Direct Skips
Transfers, valuation rules, Special Valuation Rules for Certain Lifetime Transfers
Trusts, Line 12. Trusts

U

U. S. Citizens or Residents, U. S. Citizens or Residents; Nonresident Noncitizens
Unified Credit (applicable credit amount), Line 9. Maximum Unified Credit (applicable credit amount)
Unified credit adjustment, Line 10. Adjustment to Unified Credit (applicable credit amount)

V

Valuation methods, Valuation Methods
Valuation rules, transfers, Special Valuation Rules for Certain Lifetime Transfers

W

What's New, What's New
When To File, When To File
Which Estates Must File, Which Estates Must File
Worksheet for Schedule Q, How To Compute the Credit
Worksheet TG-Taxable Gifts Reconciliation, Lines 4 and 7
Worksheet, inclusion ratio for trust, Line 9, column E. Trust's inclusion ratio.

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