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Form 706-SCP: 706 (Schedule P)
Form 706 Schedule P is a supplemental worksheet attached to the Estate Tax Return (Form 706). It reports property that the decedent owned jointly with others at the time of death.
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IRS Form 706-SCP - 706 (Schedule P)
Form 706 Schedule P is a supplemental worksheet attached to the Estate Tax Return (Form 706). It reports property that the decedent owned jointly with others at the time of death.
Risk Radar
Scan points- 1A single mis‑calculated joint‑property value can change the estate tax liability by thousands of dollars.
- 2Misidentifying the ownership percentage of joint assets
- 3Using outdated or unverified fair{market} values for property on the date of death
- 4Omitting jointly‑owned assets that are not obvious (e.g., joint bank accounts)
- 5Failing to attach Schedule P when required
Plain English
When someone dies, any assets they owned together with a spouse or another person must be listed on Schedule P. This schedule shows the value of that joint property and how much of it belongs to the estate.
Submission Date
- Filing date: 2025-08-27 22:10:11
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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Glossary Terms
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What this form is for
- Use when the decedent owned property jointly with another person at death.
- Do not use if all assets were owned solely by the decedent.
- Check Form 706 instructions if the estate includes foreign‑situated jointly owned assets.
Form selector
Use this form or another form?
Estate includes only community property
Community property is reported on Schedule A, not Schedule P
✓ Verify community‑property rules in the instructions
Decedent owned a joint tenancy with right of survivorship and the other owner is a non‑spouse
Still reported on Schedule P, but ownership share may differ
✓ Confirm share in deed or trust documents
Deadline or filing window
Schedule P must be filed with Form 706 by the estate’s filing deadline, which is the 9th month after the decedent’s death (including extensions). If an extension is granted, the same extended date applies to Schedule P.
- —Fair market value at date of death | Input value from appraisal | Estate value for Schedule P | Ensure appraisal date is within 6 months of death
Checklist
What you need before filling it out
Asset description
Deed, title, or account statement · Property records or bank statements
Fair market value
Independent appraisal or market data · Appraisal report or comparable sales
Ownership percentage
Deed, trust, or joint account agreement · Legal documents showing share
Total of Schedule P
Sum of individual asset values · Schedule P worksheet totals
Before you submit
- 1All jointly owned assets are listed on Schedule P
- 2Each asset has a documented fair market value
- 3Ownership percentages are supported by legal documents
- 4Totals on Schedule P match the totals entered on Form 706
- 5Schedule P is attached to the Form 706 PDF or paper packet
- 6Executor’s signature appears on Form 706
- 7Correct IRS mailing address or e‑file transmission selected
- 8Copy of the filing receipt is saved
How to file this form
- 1Collect deeds, titles, and statements for all joint assets
- 2Obtain or verify fair market values as of the date of death
- 3Determine the decedent’s exact ownership share for each asset
- 4Enter each asset on Schedule P, filling description, value, and share
- 5Calculate the schedule totals and transfer them to Form 706 lines 12‑13
- 6Review the entire Form 706 packet for completeness and accuracy
- 7Sign the return and submit by mail or approved e‑file system
Known limitations
- 1The form does not provide guidance on how to value illiquid assets; external appraisal may be required
- 2Joint‑ownership rules differ by state; Schedule P follows federal rules only
- 3Electronic filing support depends on third‑party software, not the IRS directly
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->Form 706 Schedule P is still in active use for estates filed after 2020. The IRS updates the accompanying instructions annually; verify the latest edition before filing.
What changed or needs a fresh check
- Edition date – confirm you are using the 2024 revision of Form 706 and Schedule P
- Fee – no separate fee for Schedule P; any estate tax due is paid with Form 706
- Mailing address – use the address listed in the 2024 Form 706 instructions for your state
- Electronic filing – verify that your software supports Schedule P attachment
- Signature – executor must sign the overall Form 706; Schedule P does not require a separate signature
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed Form 706 and Schedule P for at least 7 years
- 2Retain all supporting documents (appraisals, deeds, account statements)
- 3Monitor any IRS notices for discrepancies on joint‑property reporting
- 4If the estate receives a refund or additional tax bill, reconcile with Schedule P totals
- 5Update the estate’s accounting records to reflect the reported joint‑property values
Sources
- SRCIRS Form 706 InstructionsSchedule P section (2024 edition)
- SRCIRS Publication 559Estate Tax Overview (references joint property reporting)
- SRCIRS websiteForm 706 filing address list (2024)
- SRCIRS e‑file guidelines for Form 706 (2024)
- SRCNot clearly stated in the provided official sourceexact fee for Schedule P (no separate fee)
- SRCNot clearly stated in the provided official sourcespecific electronic filing software requirements
Common confusion points
Joint tenancy vs. tenancy in common
Ownership percentages differ
→ Verify the deed language
Community property in community‑property states
May be reported on Schedule A instead of P
→ Review state law and instructions
Non‑spouse joint owner who predeceased the decedent
Asset may revert to estate
→ Confirm survivorship provisions
Valuation date range
Appraisals older than 6 months may be rejected
→ Use the most recent appraisal
Electronic attachment of Schedule P
Some software may omit the schedule
→ Double‑check the final PDF before submission
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- File Form 706‑X to amend Schedule P errors
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