Form 706 Preparation Part 4: GST Schedule R, Form 8971, Payments & Credits 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
This 4-part series covers the 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 estate tax payment 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.
Highlights
- 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.
Designed For
CPAs, attorneys, bankers, enrolled agents and professional staff.
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
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