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Form 706-instructions: Instructions for Form 706-QDT

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Instructions for Form 706-QDT
$0
10000
20000
40000
60000
80000
100000
150000
250000
500000
750000
1000000
$10000
20000
40000
60000
80000
100000
150000
250000
500000
750000
1000000
- - - -
$0
1800
3800
8200
13000
18200
23800
38800
70800
155800
248300
345800
18%
20%
22%
24%
26%
28%
30%
32%
34%
37%
39%
40%

(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
11
22
33
44
55
(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.)
Amount in Row (p) Line 7 Worksheet over...Amount in Row (p) Line 7 Worksheet not over...Property Value on Amount in Column ARate (Divisor) on excess of amount in Column A
0
1800
3800
8200
13000
18200
23800
38800
70800
155800
248300
345800
1800
3800
8200
13000
18200
23800
38800
70800
155800
248300
345800
- - - -
0
10000
20000
40000
60000
80000
100000
150000
250000
500000
750000
1000000
18%
20%
22%
24%
26%
28%
30%
32%
34%
37%
39%
40%
1977 (Quarters 1 and 2)
1977 (Quarters 3 and 4)
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987 through 1997
1998
1999
2000 and 2001
2002 through 2010
2011
2012
2013
2014
2015
2016
$30000
$120667
$134000
$147333
$161563
$175625
$225000
$275000
$325000
$400000
$500000
$600000
$625000
$650000
$675000
$1000000
$5000000
$5120000
$5250000
$5340000
$5430000
$5450000
$6000
$30000
$34000
$38000
$42500
$42700
$62800
$79300
$96300
$121800
$155800
$192800
$202050
$211300
$220550
$345800
$1945800
$1993800
$2045800
$2081800
$2117800
$2125800
1
2
3
4
5
6
$0$250000$250000
$250000$500000$500000
$500000$750000$750000
$750000$1000000$1000000
$1000000$1250000$1250000
$1250000$1500000$1500000
$1500000$1750000$1750000
$1750000$2000000$2000000
$2000000$2250000$2250000
$2250000$2500000$2500000
$2500000$2750000$2750000
$2750000$3000000$3000000
$3000000$3250000$3250000
$3250000$3500000$3500000
$3500000$3750000$3750000
$3750000$4000000$4000000
$4000000$4250000$4250000
$4250000$4500000$4500000
$4500000$4750000$4750000
$4750000$5000000$5000000
$5000000$5250000$5250000
$5250000$5450000$5450000
Item
number
DescriptionAlternate valuation dateAlternate valueValue at date of death
1
2
Item
number
DescriptionAlternate valuation dateAlternate valueValue at date of death
1
2
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 valueAlternate valuation dateAlternate valueValue at date of death
CUSIP number or
EIN, where
applicable
1XXXXXXXXX$$
2XXXXXXXXX
Example showing use of Schedule B where the alternate valuation is adopted; date of death, January 1, 2016
Item
number
Description, including face amount of bonds or number of shares and par value where
needed for identification. Give CUSIP number. If trust, partnership, or closely-held
entity, give EIN.
Unit valueAlternate valuation dateAlternate valueValue at date of death
CUSIP number or
EIN, where
applicable
1XXXXXXXXX$$
1XXXXXXXXX
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)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
Part II   Transferee’s tax on prior transfers
ItemAmount
21.21
22.22
23.23
24.24
25.25
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
$1010000
$1030000
$1060000
$1100000
$1120000
$1500000
$2000000
$3500000
$5000000
$5125000
$5250000
$5340000
$5430000
1
2
3
4
5
6
7
8
9
7061 hr., 25 min.1 hr., 50 min.3 hr., 42 min.48 min.
Schedule A- - - -15 min.12 min.20 min.
Schedule A-133 min.31 min.1 hr., 15 min.1 hr., 3 min.
Schedule B19 min.9 min.16 min.20 min.
Schedule C19 min.1 min.13 min.20 min.
Schedule D6 min.6 min.13 min.20 min.
Schedule E39 min.6 min.36 min.20 min.
Schedule F26 min.8 min.18 min.20 min.
Schedule G26 min.21 min.12 min.13 min.
Schedule H26 min.6 min.12 min.13 min.
Schedule I13 min.30 min.15 min.20 min.
Schedule J26 min.6 min.16 min.20 min.
Schedule K13 min.9 min.18 min.20 min.
Schedule L13 min.4 min.15 min.20 min.
Schedule M13 min.34 min.25 min.20 min.
Schedule O19 min.12 min.21 min.20 min.
Schedule P6 min.15 min.18 min.13 min.
Schedule Q- - - -12 min.15 min.13 min.
Worksheet for Schedule Q6 min.6 min.58 min.20 min.
Schedule R19 min.45 min.1 hr., 10 min.48 min.
Schedule R-16 min.46 min.35 min.20 min.
Schedule U19 min.26 min.29 min.20 min.
Schedule pc- - - -2 min.12 min.20min.
Continuation Schedule19 min.1 min.13 min.20 min.

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