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This document is used for reporting the estate tax for estates of decedents whose date of death is in the calendar year 2005, including specific instructions for completing the return and necessary
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The executor of a decedent's estate uses Form 706 to figure the estate tax imposed by chapter 11 of the Internal Revenue Code.
If the decedent was a resident of Minnesota at the time of death, the estate is required to file Form M706 if the federal gross estate plus federal adjusted taxable gifts made within three years of the decedent's death exceeds $2,700,000 on the date of death or if the estate is required to file a federal estate tax
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M706 is a tax form used in the United States for reporting the estate tax.
The executor of the estate is required to file M706 when the estate value exceeds the federal estate tax exemption threshold.
To fill out M706, gather necessary financial documents, list all assets, calculate the total value, and complete the form by providing all required information and signatures.
The purpose of M706 is to report the value of an estate and determine the tax liability owed to the government.
M706 must report details such as the decedent's assets, liabilities, and any deductions or credits, along with personal identification information of the decedent and executor.
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