Description

This 4-part series covers fundamentals of Form 706. In this final course, we will cover GST allocations on Schedule R, Foreign Death Tax credit, Prior Transfer credit, Qualified Conservation Easements and making the 6166 election for payment of estate tax, or considering a Graegin or other loan to pay the estate tax. Illustrations of attachments and/or narrative examples for Schedule R will be provided.

Presented by Donita Joseph

Target Audience

CPAs, attorneys, bankers, enrolled agents and professional staff.

Course Objectives

• Determine the proper reporting for Schedules P-R
• Recognize the usefulness of the 6166 election in providing liquidity for estate tax payments
• Identify terms and provisions in will and living trusts that impact GST exemption allocations

Subjects

• Generation Skipping Transfer Tax, Schedule R, including election statements and integration with the marital deduction
• Foreign Death Tax Credit, Schedule P and Prior Transfer Credit, Schedule Q
• Qualified Conservation Easements, Schedule U
• Making Sec. 6166 election and using Graegin loans

Prerequisites

Completion of Form 706 Preparation Parts 1-3.