Form 706-GS(T) Form 706-GS(T) Generation-Skipping Transfer Tax Return For Terminations

Form

706-GS(T)

Generation-Skipping Transfer Tax Return
For Terminations

(Rev. October 2008)
Department of the Treasury
Internal Revenue Service

Part I

OMB No. 1545-1145

For calendar year

General Information

1a Name of trust

1b Trust’s employer identification number (see instructions)

2a Name of trustee

2b Trustee’s address (number and street or P.O. box; apt. or suite no.; city, town or post office; state and ZIP code)

Part II

Trust Information (see page 3 of the instructions)
Yes No

Sch. A
number(s)

3

Has any exemption been allocated to this trust by reason of the deemed allocation rules of
section 2632? If “Yes,” describe the allocation on the line 7, Schedule A attachment showing
how the inclusion ratio was calculated

4

Has property been contributed to this trust since the last Form 706-GS(T) or 706-GS(D-1) was
filed? If “Yes,” attach a schedule showing how the inclusion ratio was calculated

5

Have any terminations occurred that are not reported on this return because of the exceptions
in section 2611(b)(1) or (2) relating to medical and educational exclusions and prior payment of
Generation-Skipping Transfer (GST) tax? If “Yes,” attach a statement describing the termination

6

Have any contributions been made to this trust that were not included in calculating the trust’s
inclusion ratio? If “Yes,” attach a statement explaining why the contribution was not included

7

Has the special QTIP election in section 2652(a)(3) been made for this trust?

8

If this is not an explicit trust (see page 1 of the instructions under Who Must File), check here and attach a statement
©
describing the trust arrangement that makes its effect substantially similar to an explicit trust

Part III

Tax Computation

9a Summary of attached Schedules A (see instructions for line 9b on page 6)

GST tax
(from Sch. A, line 10)

Schedule A No.

9a1
9a2
9a3
9a4
9a5
9a6

1
2
3
4
5
6
©

9b Total from all additional Schedules A attached to this form
10
11
12
13

Total GST tax (add lines 9a1 through 9b)
Payment, if any, made with Form 7004
Tax due. If line 10 is larger than line 11, enter the amount owed
Overpayment. If line 11 is larger than line 10, enter amount to be refunded

Sign
Here
Paid
Preparer’s
Use Only

9b
10
11
12
13

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer other than fiduciary is based on all information of which preparer has any knowledge.

©

Signature of fiduciary or officer representing fiduciary
Preparer’s
signature

©

Firm’s name (or
yours if self-employed),
address, and ZIP code

Date
Date

©

For Privacy and Paperwork Reduction Act Notice, see page 6 of separate instructions.

Check if
self-employed

Preparer’s SSN or PTIN

EIN
Phone no.
Cat. No. 10329M

(
Form

)

706-GS(T)

(Rev. 10-2008)

Form 706-GS(T) (Rev. 10-2008)

Page

Name of trust

Schedule A No.

2

EIN of trust

Note. Make copies of this schedule before completing it if you will need more than one
Schedule A.

Schedule A—Taxable Terminations
(See page 4 of the instructions before completing this schedule.)
a
Name of skip persons

b
SSN or EIN of skip person

c Item no. from line 4 below in
which interest held

1

2

3
4

Describe the terminating power or interest. If you need more space, attach an additional sheet.

If you elect alternate valuation, check here (see page 4 of the instructions)
Describe each taxable termination below (see page 4 of the instructions)
a
b
c
Item no.
Description of property subject to termination
Date of termination

©
e
Value

d
Valuation date

1

5
6
7
8
9
10

Total
Total deductions applicable to this Schedule A (from attached Schedule B, line 5)
Taxable amount (subtract line 5 from line 4)
Inclusion ratio (attach separate schedule showing computation)
Maximum federal estate tax rate (see Table on page 6 of the instructions)
Applicable rate (multiply line 7 by line 8)
GST tax (multiply line 6 by line 9) (enter here and on page 1, Part III, line 9)

©

4
5
6
7
8
9
10

%

Schedule A (Form 706-GS(T)) (Rev. 10-2008)

Form 706-GS(T) (Rev. 10-2008)

Page

3

Schedule A No. ©

Name of trust

EIN of trust

Note. Make copies of this schedule before completing it if you will need more than one Schedule B.

Schedule B(1)—General Trust Debts, Expenses, and Taxes
(Section 2622(b)) (Enter only items related to the entire trust; see page 5 of the instructions.)
a
Item no.
1

c
Amount

b
Description

1

Total of Schedule B(1)

1

2

Percentage allocated to corresponding Schedule A

2

3

Net deduction (multiply line 1 by line 2)

3

%

Schedule B(2)—Specific Termination-Related Debts, Expenses, and Taxes
(Section 2622(b)) (Enter only items related solely to terminations appearing on corresponding Schedule A; see page 5 of the instructions.)
a
b
c
Item no.
Description
Amount

1

4

4

Total of Schedule B(2)

5

Total. Add lines 3 and 4 (enter here and on line 5 of the corresponding Schedule A)

5

Schedules B(1) and B(2) (Form 706-GS(T)) (Rev. 10-2008)