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NY DTF ET-706 2016 free printable template

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New York State Estate Tax Return ET-706 4/16 Department of Taxation and Finance For office use only For an estate of an individual who died on or after April 1 2016 and on or before March 31 2017 Amended return Federal audit changes Decedent s last name First name Middle initial Social security number SSN Address of decedent at time of death number and street City Date of death State ZIP code If copy of death certificate is attached mark an X in the box County of residence If the decedent was...
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How to fill out et 706 2016 form

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How to Fill out ET 706 2016 Form:

01
Begin by carefully reading the instructions provided with the ET 706 2016 form.
02
Gather all the necessary information and documents required for the form, such as the decedent's personal information, executor information, and details about the estate.
03
Start by filling out the top part of the form, which includes the name of the decedent, their social security number, and the estate tax computation period.
04
Proceed to Section A, which requires information about the executor or personal representative filling out the form. Provide their name, address, telephone number, and social security or taxpayer identification number.
05
In Section B, record the decedent's personal information, including their name, address, date of birth, date of death, and social security number.
06
Section C of the form requires you to provide the details of the estate, such as the address, date of death value of the gross estate, the total deductions claimed, and the adjusted taxable estate value.
07
Move on to Section D, where you need to calculate the tentative tax on the adjusted taxable estate. Follow the instructions carefully and perform the necessary calculations.
08
Fill out Section E, which involves providing information about the person receiving any share or interest in the estate.
09
Section F requires you to disclose any lifetime taxable gifts made by the decedent.
10
In Section G, you will need to calculate the total allowable specific exemptions.
11
Continue to Section H, where you will calculate the taxable estate and tentative tax.
12
Finally, complete Section I by calculating the estate tax due, taking into account any prior payments or credits.
13
Review the completed form for accuracy, ensuring all sections are properly filled out and all calculations are correct.
14
Sign and date the form, and make sure to include the preparer's information if applicable.
15
Keep a copy of the completed ET 706 2016 form for your records.

Who Needs ET 706 2016 Form:

01
Executors or personal representatives of individuals who have passed away and have an estate that may be subject to federal estate tax.
02
Those who need to calculate and file estate tax returns for the year 2016 using the ET 706 form.
03
Individuals who are responsible for handling the financial matters of the decedent and ensuring compliance with estate tax regulations.

Who needs a Tax Form ET-706?

The estate of an individual who lived in the New York State at the time of their death must submit an NYS estate tax return to the Tax Center if the total of the federal gross estate and any taxable gifts values more than the basic exclusion amount $3,125,000. This form should be completed for both types of people, New York State residents, and nonresidents. The form must be completed by the attorney or authorized representative of the decedent.

What is Form ET-706 for?

This form is used as a standard tax return for an estate of an individual who died during the calendar year specified in the form.

This tax return must be filed within nine months after the date of death unless an extension of time to file the return has been granted.

A copy of death certificate, decedent's last will, letters of appointment, and a power of attorney must be attached to this form.

How do I fill out Form ET-706?

The following information must be provided to complete the form:

  • Tax computation;

  • Description of litigation of course of action;

 

Once completed and signed, this form must be directed to the: NYS Estate Tax Processing Center, PO Box 15167, Albany NY 12212-5167

 

Instructions and Help about et 706 2016 form

Hello we will be going over form 706 together and if you want you can pull up your own copy of form 706, so I can pause this video then come back and let's go to that form 706 together your job is to prepare the in product which is the form 706 on your midterm and I expect form 706 to be as complete as possible a list that a list of what should be attached to the return but not the actual attachments should be included because I will not be reproducing the documents to include any attachments, but we want the return to look as complete as possible when you complete a form 706 I have a copy here we're going to go through some schedules and various pages of the form you're telling the deceit and story, but it reflects a snapshot of where the deceit was at the time of death it's important to be complete when you prepare them the starting point is to determine if a return is required the first step is to determine if the gross estate which is gross estate tax I should say on line 8 which you can see here exceeds the required exclusion amount, and you can see the exclusion amounts computed here in section 9 but when you compare those two numbers it still isn't quite that simple there are adjustments that have to be made and the adjustments to the exclusion amount are in the lines that follow the basic exclusion shown online a and those amounts those adjustments are the adjusted taxable gifts which are the pulse 76 gifts not included in the tax for state we have to reduce the applicable exclusion for any exam that was taken after September 8, 1976, and what I'm discussing now is shown here on line 10 in the 76 act they went from an exemption to what we now have today which is the unified credit when they made a change in the law going from this exemption to the unified credit that we have today for the period 98 76 to the end of 1976 if you used your exemption you had to reduce your credit by 20% of the exemption you use so that affects our clickable exclusion amount and that's why you see this adjustment that needs to be made whether you have to file a tax of form 706 depends on the amount of the gross estate not the net estate that generates an estate tax if we add back the exemption that we talked about not too long ago that you use posts September 8, 1976, as well as your adjusted taxable gifts let's see where that is on line 4 — your taxable estatonlinenrevisited FIF that amount exceeds the amount when you take your tax for state, and they're just a taxable gifts if is those two amounts exceeds your applicable exclusion amount that's on line 9 see for the most part then you know that you're going to have enough to require you to file a tax return so that's just a quick way of trying to gauge it not not so quick but at least before you go through everything in all the schedules so basically the filing requirement is the function of your gross estate now in addition to that if you have a situation where you have a dispute a deceased spouse's...

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