Form 706-QDT

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Form 706-QDT

A form one files with the IRS to declare the estate tax liability for distributions from a qualified domestic trust or for the remaining value of the trust after the death of a second spouse.
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However, no Form 8971 or Schedule A is required to be filed when 1) the Form 706 is filed solely to elect portability of the deceased spousal exclusion amount; 2) the gross estate plus adjusted taxable gifts is less than the basic exclusion amount; 3) the Form 706 was filed only for an allocation or election respecting the generation-skipping transfer tax exemption; or 4) estate tax-related compliance, such as Forms 706-QDT, 706-CE, and 706-GS(D), is filed.