Get Irs Instruction 706 2020-2025

Filling out the IRS Instruction 706 can seem daunting, but with a clear guide, you can navigate the process with confidence. This guide provides step-by-step instructions on completing this essential document online, empowering you to handle estate tax responsibilities efficiently.

Follow the steps to complete the IRS Instruction 706 online.

1. Click ‘Get Form’ button to obtain the form and open it in your editing tool.
2. Begin with Part 1—Decedent and Executor. Enter the decedent's social security number and provide the name and address of the executor. If there are multiple executors, include details for each.
3. Continue to Part 2—Tax Computation. Here, you will need to report the gross estate value, applicable deductions, and calculate the estate tax using the provided rate schedule.
4. Move to Part 3—Elections by the Executor where you may elect alternate valuation or special-use valuation for farm property.
5. Complete Part 4—General Information with required information regarding the estate's administration and any exemptions.
6. Proceed to Part 5—Recapitulation. Ensure all entries are complete, including totals for each schedule.
7. Fill in Parts 6, 7, and additional schedules as necessary, depending on specific estate circumstances and assets.
8. Review your entries for accuracy and ensure you include any required attachments such as a death certificate and the decedent's will.
9. Once satisfied, save your changes. You may then download, print, or share the completed form as required before submission.

Start completing your IRS Form 706 online today and ensure your estate tax responsibilities are met.