Preparing Form 706: Line by Line

Author: Arthur Joseph Werner

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This course provides you with a practical line-by-line understanding of how to prepare a federal estate tax return (Form 706).

Tax compliance issues at death are sometimes confusing to practitioners because many lack experience in this area.

Publication Date: June 2016

Designed For
CPAs, EAs, and Attorneys

Topics Covered

  • How to prepare a federal estate tax return (Form 706)
  • How to make various elections on a Form 706
  • An understanding of the various attachments to the Federal Form 706
  • How to avoid common mistakes that cause audit difficulties
  • How to properly express valuations of assets

Learning Objectives

  • Recognize how to prepare Federal Form 706
  • Identify how to properly fill out Part I of Form 706 domicile information
  • Recognize what to provide when filling out Part 1, Decedent and Executor Information, on Form 706 when entering information on Line 8-T estate or Intestate Estate
  • Differentiate what to exclude when filling out Line 5 in Part 4 of Form 706, where you list the beneficiaries of the estate
  • Identify where you would enter information concerning any trusts in existence or created by the decedent at the time of death as an estate representative
  • Illustrate where to list funeral and administrative expenses as deductions
  • Calculate the tax computation in Part 2 of Form 706 for Line 13
  • Recognize the relatively new line in Part I when filling in executor information on Form 706
  • Differentiate the due dates for Form 706
  • Identify who the executor could elect in various estate situations
  • Recognize what applies to the Authorization Statement in Part 4 of Form 706
  • Differentiate where to indicate the a decedent who was widowed at the time of death on Part 4 of Form 706
  • Describe what applies if a decedent of an estate has a business interest, but lacks a minority interest
  • Recognize what would be excluded from an estate if properly set up
  • Identify where to list joint community property on Part 5 of Form 706
  • Evaluate circumstances where you would likely opt out of portability
  • Describe what would be entered on Line 5 when computing the Form 706 tax


Instructional Method

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

Registration Options

Regular Fee$49

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