I am looking at instructions for form 706 which states that if dying in 2006 this form must be filed toif gross estate is more than 2 mil. Does this mean that less than that = no estate tax? (I hope?)
2007-01-28 15:14:57 · 2 answers · asked by bunny2112 2 in Business & Finance ➔ Taxes ➔ United States
If your gross estate value is less than 2 million for persons dying in 2006 then there is no federal estate tax return required or federal estate tax due. However, your individual state may have an estate or inheritance tax that has a lower threshhold. You need to check with your state tax authorities for the answer on estate tax returns.
2007-01-29 02:34:33 · answer #1 · answered by woodluvto 2 · 0⤊ 0⤋
www.IRS.GOV
ALL FORMS, SCHEDULES AND INSTRUCTIONS
GOD bless us one and all, always.
2007-01-28 23:20:07 · answer #2 · answered by May I help You? 6 · 0⤊ 0⤋