Summary: These are worksheets for computing the entries regarding taxable gifts to be entered on Form 706, line 4.
Worksheet TG—Taxable Gifts Reconciliation
(To be used for line 4 of the Tax Computation)
Note. For the definition of a taxable gift, see section 2503. Follow Form 709. That is, include only the decedent's half of split gifts, whether the gifts were made by the decedent or the decedent's spouse. In addition to gifts reported on Form 709, you must include any taxable gifts in excess of the annual exclusion that were not reported on Form 709.
|Gifts made after June 6, 1932, and before 1977:|
|Gifts made after 1976:|
Line 4 Worksheet--Adjusted Taxable Gifts Made After 1976
|"1. Taxable gifts made after 1976. Enter the amount from Worksheet Taxable Gifts, line 2, column b" field|
|"2. Taxable gifts made after 1976 reportable on Schedule G. Enter the amount from Worksheet Taxable Gifts, line 2, column c" field|
|"3. Taxable gifts made after 1976 that qualify for special treatment. Enter the amount from , Worksheet Taxable Gifts line 2, column d" field|
|"4. Add lines 2 and 3" field|
|"5. Adjusted taxable gifts. Subtract line 4 from line 1. Enter here and on Part 2—Tax Computation, line 4" field|