Form 706 Preparation Part 3: Reporting Deductions 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
This section of the 4-part series will cover fundamentals of Form 706 with numerous examples of how to properly report deductions on the estate tax return, including the marital and charitable deductions.
Highlights
- How to report funeral and administrative expenses on Schedule J and/or L
- How to report debts, mortgages and liens on Schedule K
- Marital deduction and elections, QTIP, Reverse QTIP, QDOT, over-stated marital deductions
- Charitable deduction Schedule O and potential problems
Prerequisites
Completion of Form 706 Preparation Parts 1 and 2
Designed For
CPAs, attorneys, bankers, enrolled agents and professional staff.
Objectives
- Determine the proper schedule for and reporting of deductions
- Recognize protective and perfected refund claims with estate tax
- Identify potential audit issues relative to deductions on 706
Preparation
None
Leader(s):
Leader Bios
Donita Joseph, CalCPA Education Foundation
Donita M. Joseph, CPA, MBT has more than 30 years of experience in taxation issues involving estate and trust tax planning and is responsible for the firm’s Estate & Trust practice. As a partner in the firm’s Tax & Accounting Services department, she also services the needs of privately held companies and individuals. Donita’s expertise includes preparation of estate tax, gift tax, and fiduciary income tax returns, estate planning, post mortem planning, charitable trust planning and compliance, trust and estate administration, trust and estate accounting, and income tax planning for individuals.
Non-Member Price $119
Member Price $89