Form Instructions 706 IN 2024-2025

Form Instructions 706 IN: What You Should Know

G., those for students, seniors, and the blind)  Forms 706 should be filed by the executor of a decedent's estate if the decedent received gifts of more than 1,000 during the decedent's lifetime. (Also, see the discussion below on Form 705.)  For nonresidents of the U.S., the executor must file a Form 706, regardless of the number, value, and frequency of the decedent's taxable gifts. (Also, see the discussion below on Form 705.) About the U.S. Estate Tax for Deceased Payers.  A US Estate Tax Return (Form 8283). This form should normally be filed if: the decedent's taxable estate (defined  below) totals more than 5,450,000 and the decedent was a US resident in 2025 or 2019; the decedent's taxable estate (a) is greater than 1,050,000 but less than 5,450,000 (1,050,000 plus the decedent's AGI); or (b) is less than that amount (5,450,000). (See, however, the discussion under Form M-706 for decedents living in the U.S.) The U.S. estate tax includes the gift/estate tax imposed by local, state, or territorial laws. For purposes of determining the U.S. estate tax, decedents do not include: the decedent's spouse (whether the decedent is alive at the end of the tax year or dies later in that year; children or grandchildren of the decedent (including a stepchild) if the decedent's spouse dies during the year; spouse(s) or child(men) of a person for whom an exemption could apply; spouse(s) or minor child of a decedent. See IRC sections 6654 through 6656, and IRC section 408A. (See, for example, the discussion in the U.S. estate tax form forms above for people who may be able to claim a tax deduction for their gifts and/or inheritances.) The U.S. estate tax does not include the U.S. or Canadian estate tax. Note: The U.S.

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