PPC's 706/709 Deskbook

See also the Checkpoint Tax Return Compliance package, which includes the online version of this PPC deskbook.

PPC’s 706/709 Deskbook breaks down the complexities of federal estate, gift, and GST tax issues and provides clear guidance for preparing or reviewing Forms 706, 709, and related GST tax forms (Forms 706-GS(D), 706-GS(T), and 706-GS(D-1). This Deskbook leads you through the compliance process using a forms-based format, explaining the impact of recent important legislation, cases, and IRS rulings. It also includes information on IRS audits of Forms 706 and 709. With the portability election, many estates that would normally not need to file Form 706 must now file. Streamline your client service by relying on our comprehensive, user-friendly guidance.

Detailed examples, filled-in tax return forms, and preparation pointers show you how to report assets and liabilities on an estate tax return or gifts on a gift tax return. Numerous practice aids are provided, including:

• Organizers for Forms 706 and 709
• Election statements to help save time and effort when preparing 706 or 709
• Preparation checklists
• Roadmap with guidance for completing Forms 706 and 709 including references to the form lines and the key issues within the 706/709 Deskbook for more detailed coverage

• 706/709 Deskbook
  • Introductory Material
  • Form 706--Estate Taxes
    • Chapter 1: Overview of Form 706
    • Chapter 2: Form 706 Filing Requirements
  • Gross Estate
    • Chapter 3: Form 706, Schedule A—Reporting Real Estate
    • Chapter 4: Form 706, Schedule B—Reporting Stocks and Bonds
    • Chapter 5: Form 706, Schedule C—Reporting Mortgages, Notes, and Cash
    • Chapter 6: Form 706, Schedule D—Reporting Insurance on the Decedent's Life
    • Chapter 7: Form 706, Schedule E—Reporting Jointly Owned Property
    • Chapter 8: Form 706, Schedule F—Reporting Other Miscellaneous Property
    • Chapter 9: Form 706, Schedule G— Reporting Transfers Made during the Decedent's Life
    • Chapter 10: Form 706, Schedule H—Reporting Powers of Appointment
    • Chapter 11: Form 706, Schedule I—Reporting Annuities and Retirement Plans
  • Allowable Deductions and Exclusions
    • Chapter 12: Form 706, Schedule J—Reporting Funeral and Administration Expenses
    • Chapter 13: Form 706, Schedule K— Reporting Debts of the Decedent, and Mortgages and Liens
    • Chapter 14: Form 706, Schedule L—Reporting Losses and Expenses Incurred in Administering Property Not Subject to Claims
    • Chapter 15: Form 706, Schedule M—Marital Deduction
    • Chapter 16: Form 706, Schedule O—Charitable, Public, and Similar Gifts and Bequests
    • Chapter 17: Form 706, Deduction for State Death Tax Paid
    • Chapter 18: Form 706, Schedule U—Qualified Conservation Easement Exclusion
  • Credits, Payments, and Other Taxes
    • Chapter 19: Form 706, Schedule P—Credit for Death Tax Paid to a Foreign Country
    • Chapter 20: Form 706, Schedule Q— Credit for Tax on Prior Transfers
    • Chapter 21: Form 706, Credits Available as a Claim Against Estate Tax
    • Chapter 22: Tax Payments
  • Form 709--Gift Taxes
    • Chapter 23: Transfers during Life
    • Chapter 24: Form 709, Filing Requirements and Exclusions
    • Chapter 25: Form 709, Completing Parts 1 & 2, Schedule A, and Schedule C
    • Chapter 26: Form 709, Schedule B—Reporting Gifts from Prior Years
    • Chapter 27: Form 709, Lifetime Spousal Transfers
    • Chapter 28: Form 709, Charitable Gifts
  • Generation-skipping Transfer (GST) Taxes
    • Chapter 29: Generation-skipping Transfer (GST) Tax
    • Chapter 30: How to Report Generation-Skipping Transfers
    • Chapter 31: Reporting Taxable Distributions
    • Chapter 32: Form 706-GS(T), Reporting Taxable Terminations and Qualified Trust Severances
  • Administrative Issues
    • Chapter 33: Special Use Valuation
    • Chapter 34: Other Valuation Rules
    • Chapter 35: Penalties and Interest
    • Chapter 36: Estate and Gift Tax Examinations
  • QUICK REFERENCE TABLES
    • ROADMAPS TO COVERAGE
    • UNIFIED RATE SCHEDULES
    • CREDIT TABLES
    • FILING LOCATIONS
    • INTEREST RATE TABLES
    • OTHER QUICK REFERENCE TABLES
    • PENALTY TABLES
    • SOURCES OF INFORMATION
  • TAX ELECTIONS
    • SPOUSAL ELECTIONS
    • VALUATION
    • GENERATION-SKIPPING TRANSFER TAX
    • DEFERRING PAYMENT OF ESTATE TAX
    • OTHER ELECTIONS
  • WORKSHEETS
    • ESTATE AND GIFT TAX
    • GENERATION-SKIPPING TRANSFER TAX
    • CHARITABLE DEDUCTION WORKSHEETS
  • CHECKLISTS
    • PREPARATION AND REVIEW CHECKLISTS
    • EXECUTOR'S CHECKLISTS
    • FORM 709 PREPARATION AND REVIEW CHECKLISTS
    • MISCELLANEOUS CHECKLISTS
  • ADDITIONAL PREPARATION RESOURCES
    • ORGANIZERS
    • ENGAGEMENT LETTERS
    • TRANSMITTAL LETTERS
    • FILING INSTRUCTIONS
    • CONTINUATION SCHEDULES FOR FORM 706
    • CONTINUATION SCHEDULES FOR FORM 709
    • CONTINUATION SCHEDULES FOR GENERATION-SKIPPING TRANSFER TAX RETURNS
    • ESTATE TAX EXAMINATION RESOURCES
    • OTHER RESOURCES
  • GIFT AND ESTATE TAX (AND RELATED) IRS FORMS
    • FORMS AND INSTRUCTIONS FOR ESTATE AND GENERATION-SKIPPING TRANSFER TAX
    • FORMS AND INSTRUCTIONS FOR GIFT TAX
    • OTHER RELATED FORMS AND INSTRUCTIONS
  • INDEX
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• List of Substantive Changes and Additions View