The IRS publishes separate schedules for many Form 706 categories. Not every estate uses every schedule. The preparer selects the schedules that fit the decedent's assets, deductions and elections.
Asset Schedules A Through I
Common gross-estate schedules include Schedule A for real estate, Schedule B for stocks and bonds, Schedule C for mortgages, notes and cash, Schedule D for life insurance, Schedule E for jointly owned property, Schedule F for miscellaneous property, Schedule G for certain lifetime transfers, Schedule H for powers of appointment and Schedule I for annuities.
Deduction Schedules J Through O
Schedules in this group address items such as funeral and administration expenses, debts and liens, certain administration losses and expenses, marital deductions and charitable deductions. Supporting documentation and careful classification are important because deductions affect the taxable estate.
Credits, GST and Special Elections
Other schedules cover foreign tax credits, protective claims for refund, credit for tax on prior transfers, generation-skipping transfer tax, special-use valuation, conservation easement exclusions and continuation pages. The exact schedule set depends on the estate.
Why Schedule-Based Software Matters
A Form 706 program should make it easy to move between the return and the relevant schedules, carry totals into the correct computations and print a coherent filing copy. The preparer should still verify valuations, eligibility for deductions and elections, and the current IRS instructions.
Schedule Checklist Before Final Review
- Confirm every reportable asset is assigned to the correct schedule
- Reconcile schedule totals to the gross estate
- Review deduction support and classifications
- Verify marital, charitable, portability and GST entries when applicable
- Review continuation statements and attachments
- Use the current IRS revision for the applicable date of death
Official IRS reference: The IRS Form 706 page lists the current schedules and explains their general purposes.