In short
The estate tax return, Form 706, is due 9 months after death, with a 6-month extension available. It must be filed if the gross estate plus adjusted taxable gifts exceeds the basic exclusion amount.
Key takeaways
- It must also be filed to elect portability of the unused exemption to a surviving spouse.
- A simplified late portability election is available for up to 5 years after death.
- An extension of time to file doesn't extend the time to pay.
Where it's tested
REG: Trusts, Estates & Gift Tax Basics — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
When is the federal estate tax return (Form 706) due, without extension?