Form 706-instructions: Instructions for Form 706-QDT
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(To be used for lines 4 and 7 of the Tax Computation)
Gifts made after June 6, 1932, and before 1977
Calendar year or calendar quarter
Total taxable gifts for period (see Note)
Note. For the definition of a taxable gift, see section 2503. Follow Form 709. That is, include only the decedent’s one-half of split gifts, whether the gifts were made by the decedent or the decedent’s spouse. In addition to gifts reported on Form 709, you must include any taxable gifts in excess of the annual exclusion that were not reported on Form 709.
Taxable amount included in col. b for gifts included in the gross estate
Taxable amount included in col. b for gifts that qualify for “special treatment of split gifts” described below
Gift tax paid by decedent on gifts in col. d
Gift tax paid by decedent’s spouse on gifts in col. c
Total taxable gifts made before 1977
Gifts made after 1976
Totals for gifts made after 1976
1
1
2
2
3
3
4
4
5
5
(a)
Pre-1977
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
(l)
(m)
(n)
(o)
(p)
(q)
(r)
1
2
3
4
5
6
Footnotes: 1 Row (a): For annual returns, enter the tax period as (YYYY). For quarterly returns enter tax period as (YYYY–Q). 2 Row (c): Enter amount from Row (d) of the previous column. 3 Row (e): Enter amount from Row (f) of the previous column. 4 Row (k): Calculate the applicable credit on the amount in row (j), using Table A — Unified Rate Schedule, and enter here. (For each column in row (k), subtract 20 percent of any amount allowed as a specific exemption for gifts made after September 8, 1976, and before January 1, 1977.)
Description, including face amount of bonds or number of shares and par value where needed for identification. Give CUSIP number. If trust, partnership, or closely-held entity, give EIN.
Unit value
Alternate valuation date
Alternate value
Value at date of death
CUSIP number or EIN, where applicable
1
XXXXXXXXX
$
$
2
XXXXXXXXX
Example showing use of Schedule B where the alternate valuation is adopted; date of death, January 1, 2016
Item number
Description, including face amount of bonds or number of shares and par value where needed for identification. Give CUSIP number. If trust, partnership, or closely-held entity, give EIN.
Unit value
Alternate valuation date
Alternate value
Value at date of death
CUSIP number or EIN, where applicable
1
XXXXXXXXX
$
$
1
XXXXXXXXX
Pro-rata value of limited liability company (before any discounts)
$100
Minus: 10% discounts for lack of control
(10)
Marketable minority interest value (as if freely traded minority interest value)
$90
Minus: 15% discount for lack of marketability
(13.5)
Non-marketable minority interest value
$76.5
(a minus e) divided by a = effective discount
($100 - $76.5) ÷ $100 = 23.5%
Item number
Description of property interests passing to surviving spouse. For securities, give CUSIP number. If trust, partnership, or closely-held entity, give EIN.
Amount
All other property:
One-half the value of a house and lot, 256 South West Street, held by decedent and surviving spouse as joint tenants with right of survivorship under deed dated July 15, 1975 (Schedule E, Part I, item 1)
$182500
Proceeds of Metropolitan Life Insurance Company policy No. 104729, payable in one sum to surviving spouse (Schedule D, item 3)
200000
Cash bequest under Paragraph Six of will
100000
- - - - 2 years 4 years 6 years 8 years 10 years
2 years 4 years 6 years 8 years 10 years - - - -
100 80 60 40 20 none
Part I Transferor’s tax on prior transfers
(line 8 only)
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20.
Part II Transferee’s tax on prior transfers
Item
Amount
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23.
23
24.
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25
26.
26
27.
27
28.
28
29.
29
30.
30
31.
31(a)
31(b)
31(c)
32.
32
33.
33(a)
33(b)
33(c)
33(d)
33(e)
34.
34
35.
35
1999 2000 2001 2002 2003 2004 and 2005 2006, 2007, and 2008 2009 2010 and 2011 2012 2013 2014 2015
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