Form 706: Estate Tax Return Fundamentals
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Americans have been able to accumulate wealth. It is estimated more than $10 trillion in wealth will be transferred over the next 15 years. If a person has been fortunate to amass significant wealth, the government imposes a tax when the person transfers their wealth at death. In 2014, if a person's gross estate plus adjusted taxable gifts equaled or exceeded $5.34 million in value, Form 706 must be filed. In this live webinar, you will learn the rules applicable to properly preparing and filing Form 706. The webinar will cover which assets are subject to tax, the available deductions and major elections. Each schedule required to be filed with Form 706 will be discussed. The live webinar will provide you with a working understanding of how the estate tax works and proper reporting. The live webinar will discuss the changes added by the 2012 Tax Act and how these changes affect planning to reduce future transfer taxes.
Speaker: Robert E. Barnhill III
Course Content
| Overview |
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- Application of the Estate Tax
- Probate and Nonprobate Assets
- Steps in Computing Estate Tax
- Filing Requirements
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Computing the Gross Estate |
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- Assets Owned at Death
- Probate Estate Schedules A, B, C and F
- Life Insurance Schedule D
- Joint Tenancy Schedule E
- Powers of Appointment Schedule H
- Annuities and Retirement Plans Schedule I
- Retained Interests Schedule G
- Three-Year Rule
- Valuation Issues
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Deductions From Gross Estate |
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- Funeral and Administrative Expenses Schedule J
- Debts of Decedent Schedule K
- Losses Schedule L
- Marital Deduction Schedule M
- Charitable Deduction Schedule O
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Elections |
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- Alternative Valuation Date
- Special Use Valuation
- Installment Payments
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