Update to Part II—Beneficiary Information instructions

Under Part II—Beneficiary Information, we are revising the first two paragraphs, the column (e) paragraph, and adding lines 7 through 9 instructions as follows.

Lines 1 through 5. State the total number of beneficiaries to the estate. State the number of beneficiaries that have acquired only excepted property. State the number of beneficiaries that are expected to acquire (but have not yet acquired) only excepted property. Check the box if all estate property will be sold before the estate is distributed.

Line 6.   Provide the information requested below for each beneficiary required to be identified on this Form 8971 (or supplement). (See Beneficiaries required to be identified on Form 8971, earlier. See also, When property is acquired, earlier, and Excepted property defined, earlier). Duplicate and use page 2 (Part II—Continuation) if additional entries are needed.

Column (e). Enter the total estate tax value for the beneficiary.

Line 7. Add all amounts in column (e).

Lines 8 and 9. Only complete lines 8 and 9 on the original Form 8971. Do not complete lines 8 and 9 on any duplicate of Form 8971, page 2.

Line 8. Enter the total of the amounts entered on line 7 of all duplicate Form 8971, page 2, that you completed.

Line 9. Add lines 7 and 8. The amount must match the total from all attached Schedules A, Part II, line 4, column (h).