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Official form guide
Form 706-SC: 706 (Schedule C)
IRS Form 706 (Schedule C) is used to report mortgages, notes, and cash included in a decedent’s gross estate for the Department of the Treasury. This revision (8/25) requires reporting if the value of the gross estate exceeds certain thresholds.
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IRS Form 706-SC - 706 (Schedule C)
IRS Form 706 (Schedule C) is used to report mortgages, notes, and cash included in a decedent’s gross estate for the Department of the Treasury. This revision (8/25) requires reporting if the value of the gross estate exceeds certain thresholds.
Risk Radar
Scan points- 1Failure to report assets when required—even if they are eligible for marital/charitable deduction—can cause issues.
- 2Failing to identify property when required but making no entries in columns (iv) or (v).
- 3Not entering all mortgages, notes, or cash included in the decedent’s gross estate on Line 1.
- 4Omitting the Alternate valuation date for any listed asset on Schedule C (Form 706).
- 5Incorrectly calculating Line 2 by failing to add amounts from both column (iv) and column (v) when applicable.
Plain English
This form helps document all the loans, bonds, or cash assets that were owned by someone who recently died. It details these items so the IRS knows exactly what was part of their total wealth before they passed away. This information is attached to Form 706 and must be reported accurately.
Submission Date
- Filing date: 2025-08-29 22:10:17
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when reporting mortgages, notes, or cash that are included in a decedent’s gross estate.
- Do not use it when the value of the gross estate is less than the basic exclusion amount and you are filing solely to elect portability of the DSUE amount, unless required to report asset values for marital or charitable deduction.
- Check Schedule E (Form 706) instead when jointly owned property that must be disclosed on Schedule E needs reporting.
Form selector
Use this form or another form?
Jointly Owned Property
This schedule is used for properties owned jointly with the decedent.
✓ Check instructions for specific disclosure requirements.
Not required to report asset value
If you are not required to report an asset's value, identify it but leave columns (iv) and (v) blank on this schedule.
✓ Confirm the property description is clearly listed.
Attach Schedule(s) W (Form 706) or additional statements
Filing solely for portability
If gross estate + adjusted taxable gifts < basic exclusion amount, review if you must still report assets eligible for marital or charitable deduction.
✓ Verify instructions regarding required asset valuation.
Deadline or filing window
The official source does not specify a filing deadline date. However, the form must be attached to Form 706, which governs the reporting timeline. Consider reviewing instructions regarding the basic exclusion amount requirements.
Checklist
What you need before filling it out
Mortgages, Notes, or Cash
All items included in the decedent’s gross estate · Columns (i) through (v) of Schedule C
Total from attached schedules
Sum of all amounts in column (iv) or (v) for each item · Line 2
Final Total Amount
Addition of Line 2 and Line 3 · Line 4
Property Identification
Decedent’s name and SSN · Top of Page 1
Not Required Reporting
Property description only (no entries in columns iv & v) · Line 1
Before you submit
- 1Enter all mortgages, notes, or cash on line 1.
- 2Ensure each item has an Item number (i), Description (ii), Alternate valuation date (iii), Alternate value (iv), and Value at date of death (v).
- 3Add the totals from column (iv) or (v) onto Line 2.
- 4Include the total amount from any attached Schedule(s) W or additional statements on Line 3.
- 5Calculate the final Total by adding lines 2 and 3 on Line 4.
- 6Transfer the final Total amount from Line 4 to Form 706, Part V, item 3.
- 7If not required to report value, identify the property but ensure no entries are made in columns (iv) or (v).
How to file this form
- 1Enter all mortgages, notes, or cash included in the decedent’s gross estate onto Line 1 of Schedule C (Form 706).
- 2Add the calculated totals from column (iv) or column (v) onto Line 2.
- 3Sum up any additional amounts listed on attached Schedule(s) W (Form 706) and enter that total on Line 3.
- 4Calculate the final Total by adding Line 2 and Line 3, then enter this amount on Line 4 before submitting to the IRS.
Known limitations
- 1If an asset's value is less than the basic exclusion amount and Form 706 is filed solely to elect portability of the DSUE amount, consideration should be given as to whether the value of assets eligible for the marital or charitable deduction must be reported on Schedule C (Form 706) [Instructions p.1].
- 2If more space is needed on Schedule C (Form 706), one must attach Schedule(s) W (Form 706) or additional statements [Form p.1].
- 3If an asset's value does not require reporting, the property should still be identified, but no entries are made in the last three columns of Schedule C (Form 706) [Form p.1].
Field map
Compact field-by-field guide
Decedent Info
2 items
Full legal name and date of death of the deceased individual.
Employer Identification Number assigned to the estate.
Executor
1 items
Name, address, and contact information of the appointed executor.
Assets
1 items
Total value of all assets owned by the decedent at time of death.
Deductions
1 items
Funeral expenses, debts, administrative costs, and charitable bequests.
Tax
1 items
Tax calculated on taxable estate exceeding the applicable exemption amount.
Signatures
1 items
The appointed executor must sign under penalty of perjury.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current revision of IRS Form 706 (Schedule C) is dated August 2025, and the form directs users to www.irs.gov/Form706 for the latest information.
What changed or needs a fresh check
- Edition date — confirm the revision reads 08/25.
- Form number — confirm the title is Schedule C (Form 706).
- Agency name — confirm it lists Department of the Treasury, Internal Revenue Service.
- OMB Number — confirm the OMB No. is 1545-0015.
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Schedule C (Form 706).
- 2The form must be attached to Form 706 itself for filing with the Department of the Treasury, Mortgages, Notes, and Cash division [Form p.1].
- 3If additional statements are used, they should also be kept as part of the filing documentation [Form p.1].
- 4Total amounts from Schedule C (Form 706) must be entered onto Form 706, Part V, item 3 [Form p.2].
Sources
- SRCThe official title is Schedule C (Form 706) [Form p.1].
- SRCThe form revision date on file is August 2025 [Form p.1/p.2].
- SRCDecedent’s name and SSN are required fields on the schedule [Form p.1].
- SRCAll mortgages, notes, or cash included in the decedent's gross estate must be entered on Schedule C (Form 706) [Form p.1].
- SRCLine 4 of Schedule C (Form 706) is the Total derived from adding lines 2 and 3 [Form p.2].
- SRCThe form can be attached to Form 706, which governs the filing process [Form p.1].
Common confusion points
What do I enter if I am not required to report an asset's value on Schedule C (Form 706)?
Identify the property but make no entries in columns (iv) or (v).
→ Confirm that you have identified the property description.
Where does the total from Schedule(s) W (Form 706) go?
The total from all attached Schedule(s) W (Form 706) is entered on line 3 of Schedule C (Form 706).
→ Verify that you have totaled all attached Schedule(s) W (Form 706) before entering the amount.
Which values do I add together to get Line 2 on Schedule C (Form 706)?
You must add all amounts listed in column (iv) (Alternate value) or column (v) (Value at date of death), as applicable.
→ Check lines (iv) and (v) for every item entered on Schedule C (Form 706).
What is the final total I need to enter on Form 706?
The Total amount, calculated by adding Line 2 and Line 3 of Schedule C (Form 706), is entered on line 4.
→ Ensure you have correctly summed Line 2 and Line 3 before transferring the figure.
What must I include in column (v) for each asset?
Column (v) requires the Value at date of death for each item listed on Schedule C (Form 706).
→ Cross-reference your asset list against the required entry for column (v).
If my gross estate value is less than the basic exclusion amount, do I still need to fill out Schedule C (Form 706)?
Consideration should be given as to whether you are required to report the value of assets eligible for the marital or charitable deduction on this schedule.
→ Review the instructions referenced in the form regarding the basic exclusion amount.
What is the official title and revision date of this form?
The official title is 706 (Schedule C), and the current edition/revision on file is August 2025.
→ Confirm that the top of your form reads 'SCHEDULE C (Form 706) (August 2025)'.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Additional statements can be attached to provide more detail for Schedule C (Form 706)
Questions about IRS Form 706-SC
What is IRS Form 706-SC used for?
This form helps document all the loans, bonds, or cash assets that were owned by someone who recently died. It details these items so the IRS knows exactly what was part of their total wealth before they passed away. This information is attached to Form 706 and must be reported accurately.
Who must file IRS Form 706-SC?
The filer category includes individuals whose property must be disclosed on Schedule E (Form 706).
What information does IRS Form 706-SC require?
Schedule C (Form 706) collects details of the decedent’s assets, listing them by Item number and Description. It requires recording the Alternate valuation date, Alternate value, and Value at date of death for each item.
Where do I file IRS Form 706-SC?
The form is filed with the Department of the Treasury. Instructions direct users to www.irs.gov/Form706 for filing locations and latest information.
How do I complete IRS Form 706-SC?
First, list all mortgages, notes, or cash on Line 1, ensuring you identify if an asset is exempt from reporting. Then, add up the amounts in column (iv) or (v) onto Line 2. Finally, total Lines 2 and 3 to complete Line 4 before entering these totals onto Form 706, Part V, item 3.
What do I enter if I am not required to report an asset's value on Schedule C (Form 706)?
Identify the property but make no entries in columns (iv) or (v). Confirm that you have identified the property description.
Where does the total from Schedule(s) W (Form 706) go?
The total from all attached Schedule(s) W (Form 706) is entered on line 3 of Schedule C (Form 706). Verify that you have totaled all attached Schedule(s) W (Form 706) before entering the amount.
Which values do I add together to get Line 2 on Schedule C (Form 706)?
You must add all amounts listed in column (iv) (Alternate value) or column (v) (Value at date of death), as applicable. Check lines (iv) and (v) for every item entered on Schedule C (Form 706).
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