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14119: 706 - Part 6, Line 3 Amounts


706 Estate

How do I get an amount to flow to the 706, United States Estate (and Generation-Skipping Transfer) Tax Return, Part 6, line 3? 
 

There is an entry for Part 6, Line 3 of the 706 return on the 709- 709 Summary Information screen in data entry. On this screen, you can enter the value of cumulative lifetime gifts on which tax was paid or payable. 

Per the 706 instructions on Part 6—Portability of Deceased Spousal Unused Exclusion (DSUE): 

"Section 303 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 authorized estates of decedents dying after December 31, 2010, to elect to transfer any unused exclusion to the surviving spouse. The amount received by the surviving spouse is called the deceased spousal unused exclusion, or DSUE, amount. If the executor of the decedent’s estate elects transfer, or portability, of the DSUE amount, the surviving spouse can apply the DSUE amount received from the estate of his or her last deceased spouse (defined later) against any tax liability arising from subsequent lifetime gifts and transfers at death.

NOTE: ​A nonresident surviving spouse who is not a citizen of the United States may not take into account the DSUE amount of a deceased spouse, except to the extent allowed by treaty with his or her country of citizenship."


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