What Schedule M is for
Schedule M of Form 706 is used for certain property interests passing to the surviving spouse. The current IRS instructions control what must be reported and how values or deductions are supported.
Records to gather
Prepare beneficiary terms, QTIP/election information and value of property passing to the spouse. Keep source documents and valuation work with the estate file so amounts on the schedule can be traced back to supporting records.
Preparation workflow
- Identify items that belong on Schedule M under the current instructions.
- Gather ownership, valuation or deduction support.
- Enter each item consistently with the date-of-death valuation and other Form 706 schedules.
- Reconcile the schedule total to the Form 706 recapitulation.
- Attach appraisals, statements or explanations when the instructions require them.
Schedule-specific rules matter. This page is a preparation overview, not a substitute for the current IRS Form 706 and Schedule M instructions.