Form 706 - United States Estate (and Generation-Skipping Transfer) Tax Return

This is IRS Form 706 (Rev. August 2025) - United States Estate (and Generation-Skipping Transfer) Tax Return. This form is used to calculate and report the federal estate tax owed on a deceased person's estate, as well as any generation-skipping transfer (GST) taxes. It must be filed for estates of U.S. citizens or residents dying after December 31, 2024, whose gross estate exceeds the applicable exclusion amount. Form Guidelines: - The executor or personal representative of the estate is responsible for filing this form - Form 706 is due 9 months after the decedent's date of death (extensions may be available) - A certified copy of the death certificate MUST be attached - If the decedent died testate (with a will), attach a certified copy of the will - All monetary amounts should be entered in U.S. dollars - Social Security Numbers must be valid 9-digit numbers in XXX-XX-XXXX format - Dates should be entered in MM/DD/YYYY format - The basic exclusion amount for 2025 is $13,990,000 per individual - Portability allows a surviving spouse to use the deceased spouse's unused exclusion (DSUE) - Alternate valuation (6 months after death) may be elected if it reduces both the gross estate and estate tax - Special-use valuation under Section 2032A may apply to qualifying farm or business real property - Generation-skipping transfer tax applies to transfers to skip persons (grandchildren or younger) - All schedules (A through U) must be completed as applicable and attached - False statements may result in criminal penalties - The executor may be personally liable for unpaid estate taxes Key Concepts: - Gross Estate: Total value of all property interests owned by the decedent at death - Taxable Estate: Gross estate minus allowable deductions - Applicable Exclusion: Basic exclusion plus DSUE plus any restored exclusion amounts - Unified Credit: Credit against estate tax equal to tax on the applicable exclusion amount - Marital Deduction: Unlimited deduction for property passing to surviving U.S. citizen spouse - Charitable Deduction: Deduction for property passing to qualified charitable organizations

Form 706

(Rev. August 2025)

Department of the Treasury
Internal Revenue Service

United States Estate (and Generation-Skipping Transfer)
Tax Return

Estate of a citizen or resident of the United States (see instructions). To be filed for decedents dying after December 31, 2024.

Go to www.irs.gov/Form706 for instructions and the latest information.

OMB No. 1545-0015

Part I Decedent and Executor (see instructions)

1a Decedent's first name and middle initial (and maiden name, if any)

1b Decedent's last name

2 Decedent's social security no.

3a City, town, or post office. For foreign addresses, also complete lines 3e, 3f, and 3g.

3b County

3c State

3d ZIP code

3e Foreign country name

3f Foreign province/state/county

3g Foreign postal code

4 Year domicile established

5 Date of birth

6 Date of death

7a Name of executor

7b Executor's TIN

7c Executor's address (number and street)

7d Apt. or suite no.

7e City, town, or post office. For foreign addresses, also complete lines 7h, 7i, and 7j.

7f State

7g ZIP code

7h Foreign country name

7i Foreign province/state/county

7j Foreign postal code

7k Executor's phone no.

7l Check here if there are multiple executors.

8a Name of court where will was probated or estate administered

8b Location of court

8c Case number

Check all that apply

9a The decedent died testate. b You attached a certified copy of the Will.

10 You attached the death certificate. Note. A death certificate must be attached. 11 You extended the time to file this Form 706. 12 You are estimating the value of assets per Reg. section 20.2010-2(a)(7)(ii). 13 This is a supplemental return. 14a You previously filed a section 2053 protective claim for refund that is now ready for consideration.

b If line 14a is checked, enter the filing date(s):

Part II Tax Computation (see instructions)

1	Total gross estate less exclusion from Part V, item 13	1
2	Tentative total allowable deductions from Part V, item 24	2
3a	Tentative taxable estate. Subtract line 2 from line 1	3a
b	State death tax deduction	3b
c	Taxable estate. Subtract line 3b from line 3a	3c
4	Adjusted taxable gifts. See instructions	4
5	Add lines 3c and 4	5
6	Tentative tax on the amount on line 5 from Table A	6
7	Total gift tax paid or payable. See instructions	7
8	Gross estate tax. Subtract line 7 from line 6	8

9a	Basic exclusion amount	9a
b	Deceased spousal unused exclusion (DSUE) amount from Part VI, Section D, line 4	9b
c	Restored exclusion amount. See instructions	9c
d	Applicable exclusion amount. Add lines 9a, 9b, and 9c	9d
e	Applicable credit amount from Table A	9e
10	Adjustment to applicable credit amount. Do not enter more than $6,000.	10

11	Allowable applicable credit amount. Subtract line 10 from line 9e	11
12	Subtract line 11 from line 8. If zero or less, enter -0-	12

Part II Tax Computation (continued)

13	Credit for foreign death taxes from Schedule P. Attach Form(s) 706-CE	13
14	Credit for tax on prior transfers from Schedule Q	14
15	Credit for pre-1977 federal gift taxes under section 2012	15
16	Marital credit under the 1995 Canadian Protocol	16

17	Total credits. Add lines 13 through 16	17
18	Net estate tax. Subtract line 17 from line 12	18
19	Generation-skipping transfer (GST) taxes from Schedule R, Part II, line 11	19
20	Total transfer taxes. Add lines 18 and 19	20
21	Prior payments. Explain in an attached statement	21
22	Tax due. If line 20 > line 21, subtract line 21 from line 20	22
23a	Overpayment. If line 21 > line 20, subtract line 20 from line 21	23a

b Routing number

c Type:

Checking Savings

d Account number

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete.

Sign Here

Signature of executor

Date

Signature of executor

Date

Paid Preparer Use Only

Preparer's name

Preparer's signature

Date

Self-employed

PTIN

Firm's name

Firm's EIN

Firm's address

Phone no.

Part III Elections by the Executor (see instructions)

Note. For information on electing portability of the decedent's DSUE amount, including how to opt out, see Part VI.

Caution. Some of the following elections may require the posting of bonds or liens.

Check "Yes" or "No" for each question.	Yes	No
1 Do you elect alternate valuation?
2 Do you elect special-use valuation? If "Yes," complete and attach Schedule T (Form 706)
3 Do you elect to pay the taxes in installments as described in section 6166?
4 Do you elect to postpone taxes due to a reversionary or remainder interest (section 6163)?

Part IV General Information (see instructions)

Note. Attach the necessary supplemental documents.

1a Death certificate number

1b Death certificate issuing authority

2a Decedent's business or occupation

2b Check here if retired

3a Marital status of the decedent at time of death:

3b For all prior marriages, list the information below:

(i) Name of former spouse(s)	(ii) Social security number	(iii) Date marriage ended	(iv) Annulment / Divorce / Death
			Ann.	Div.	Death
			Ann.	Div.	Death

4a Surviving spouse's name

4b Social security number

4c Amount surviving spouse received

5a Individuals (other than the surviving spouse), trusts, or other estates who receive benefits from the estate:

(i) Name of individual, trust, or estate receiving $5,000 or more	(ii) Identifying number	(iii) Relationship to decedent	(iv) Amount received

b Total from attachment, if necessary

c All unascertainable beneficiaries and those who receive less than $5,000

d Total. Add amounts in column (iv)

Part V Recapitulation (see instructions)

Note. If estimating the value of one or more assets pursuant to the special rule of Reg. section 20.2010-2(a)(7)(ii), enter on both items 10 and 23 the amount noted in the instructions for the corresponding range of values.

Item no.	Gross estate from the applicable schedules of Form 706	Alternate value	Value at date of death
1	Total real estate. Schedule A, line 4
2	Total stocks and bonds. Schedule B, line 4
3	Total mortgage, notes, and cash. Schedule C, line 4
4	Total insurance on the decedent's life. Schedule D, line 4. Attach Form(s) 712
5	Total jointly owned property. Schedule E, line 10
6	Total other miscellaneous property. Schedule F, line 7
7	Total transfers during the decedent's lifetime. Schedule G, line 5
8	Total powers of appointment. Schedule H, line 4
9	Total annuities. Schedule I, line 5
10	Estimated value of assets subject to the special rule of Reg. section 20.2010-2(a)(7)(ii)
11	Total gross estate. Add items 1 through 10
12	Total qualified conservation easement exclusion. Schedule U, line 20
13	Total gross estate less exclusion. Subtract item 12 from item 11. Enter here and on Part II, line 1

Item no.	Deductions from the applicable schedules of Form 706	Amount
14	Total funeral expenses and expenses incurred in administering property subject to claims. Schedule J, line 12
15	Total debts of the decedent. Schedule K, line 6
16	Total mortgages and liens on property of the decedent. Schedule K, line 10
17	Add items 14 through 16
18	Allowable amount of deductions from item 17. See instructions
19	Total net losses during administration. Schedule L, line 4
20	Total expenses incurred in administering property not subject to claims. Schedule L, line 8
21	Total amount of property interests for which a marital deduction is being claimed. Schedule M, line 14
22	Total charitable, public, and similar gifts and bequests. Schedule O, line 8
23	Estimated value of deductible assets subject to the special rule of Reg. section 20.2010-2(a)(7)(ii)
24	Tentative total allowable deductions. Add items 18 through 23. Enter here and on Part II, line 2

Part VI Portability of Deceased Spousal Unused Exclusion (DSUE) (see instructions)

Portability Election

A decedent with a surviving spouse elects portability of the DSUE amount, if any, by completing and timely filing this return. No further action is required to elect portability.

Section A - Opting Out of Portability

Check here for the estate of a decedent with a surviving spouse to opt out of electing portability of the DSUE amount. Do not complete Sections B and C.

Caution. Check only if the estate opts NOT to elect portability of the DSUE amount.

Section B - Qualified Domestic Trust (QDOT)

Are any assets of the estate being transferred to a QDOT?

Yes No

If "Yes," the DSUE amount portable to a surviving spouse is preliminary and shall be redetermined at the time of the final distribution or other taxable event imposing estate tax under section 2056A.

Section C - DSUE Amount Portable to the Surviving Spouse

(To be completed by the estate of a decedent making a portability election.)

1	Enter the amount from Part II, line 9d	1
2	Enter the value of cumulative lifetime gifts on which tax was paid or payable	2
3	Add lines 1 and 2	3
4	Enter the amount from Part II, line 10	4
5	Divide line 4 by 40% (0.40). If zero or less, enter -0-	5
6	Subtract line 5 from line 3	6
7	Enter the amount from Part II, line 5	7
8	Subtract line 7 from line 6. If zero or less, enter -0-	8
9	Enter the amount from Part II, line 9a	9
10	DSUE amount portable to surviving spouse. Enter the smaller of line 8 or line 9	10

Section D - DSUE Amount Received From Predeceased Spouse(s)

(To be completed by the estate of a deceased surviving spouse with DSUE amount from predeceased spouse(s).)

A Name of deceased spouse (deaths after 12/31/2010 only)	B Date of death (mm/dd/yy)	C Portability election made?	D If "Yes," DSUE amount received	E DSUE applied to lifetime gifts	F Year of Form 709	G Remaining DSUE (D minus E)
1 DSUE received from last deceased spouse:
		Yes No
2 DSUE received from other predeceased spouse(s) and used by decedent:
		Yes No

3 Total of all DSUE amounts from predeceased spouse(s) applied. Add line 2, column E

4 Add line 3 and line 1, column D. Enter here and on Part II, line 9b

	Yes	No
6 Is the estate filing a protective claim for refund? If "Yes," attach Schedule PC (Form 706)
7 Does the gross estate contain any section 2044 property (QTIP from a prior gift or estate)?
8a Have federal gift tax returns ever been filed?

	Yes	No
9a Was there any insurance on the decedent's life that is not included on the return as part of the gross estate?
b Did the decedent own any insurance on the life of another that is not included in the gross estate?
10 Did the decedent own any property as a joint tenant with right of survivorship where (a) one or more joint tenants was someone other than the decedent's spouse, and (b) less than full value is included on the return? If "Yes," attach Schedule E
11a Did the decedent own any interest in a partnership, unincorporated business, LLC, or stock in an inactive or closely held corporation?
b If "Yes" to line 11a, was the value of any interest discounted on this estate tax return?
12 Did the decedent make any transfer described in sections 2035, 2036, 2037, or 2038? If "Yes," attach Schedule G
13a Were there any trusts created by the decedent during the decedent's lifetime?
b Were there any trusts not created by the decedent under which the decedent possessed any power, beneficial interest, or trusteeship?
c Was the decedent receiving income from a trust created after October 22, 1986, by a parent or grandparent?
d If "Yes" to line 13c, was there a GST taxable termination (under section 2612) on the death of the decedent?
e Did the decedent transfer or sell an interest in a partnership, LLC, or closely held corporation to a trust described in line 13a or 13b?

	Yes	No
14 Did the decedent ever possess, exercise, or release any general power of appointment? If "Yes," attach Schedule H
15 Did the decedent have an interest in or authority over a financial account in a foreign country?
16 Was the decedent receiving an annuity described in the instructions for Schedule I or a private annuity? If "Yes," attach Schedule I
17 Was the decedent ever the beneficiary of a trust for which a deduction was claimed by the estate of a predeceased spouse under section 2056(b)(7) and which is not reported on this return?