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Official form guide
Form 706-SG: 706 (Schedule G)
IRS Form 706 (Schedule G) is used for reporting transfers during a decedent’s lifetime to the Department of the Treasury, Internal Revenue Service. If electing section 2032A valuation, this form must be completed alongside Schedule T (Form 706).
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IRS Form 706-SG - 706 (Schedule G)
IRS Form 706 (Schedule G) is used for reporting transfers during a decedent’s lifetime to the Department of the Treasury, Internal Revenue Service. If electing section 2032A valuation, this form must be completed alongside Schedule T (Form 706).
Risk Radar
Scan points- 1If electing section 2032A valuation, failure to complete both Schedule G and Schedule T is a critical error.
- 2Failing to enter transfers includible under sections 2035(a), 2036, 2037, or 2038 on Line 1.
- 3Entering the wrong CUSIP number for securities listed in the transfer description.
- 4Omitting the EIN when describing a trust, partnership, or closely held entity transfer.
- 5Not providing an alternate valuation date (line iv) when applicable to a transfer.
Plain English
This form details assets that were transferred while someone was alive but before they passed away. It helps report these transfers to the IRS when filing the main estate tax return (Form 706). If you choose a special valuation method, this schedule is required.
Submission Date
- Filing date: 2025-08-27 22:10:21
- 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 transfers during a decedent’s lifetime that are includible under sections 2035(a), 2036, 2037, or 2038.
- Do not use this form if you are only electing portability of the DSUE amount and the gross estate value plus adjusted taxable gifts is less than the basic exclusion amount (consider reporting asset values on Schedule G).
- Check Schedule T (Form 706) instead when electing section 2032A valuation.
Form selector
Use this form or another form?
Electing section 2032A valuation
Must be completed alongside Form 706 (Schedule G) when this election is made.
✓ Confirm that both schedules are attached to Form 706.
Need additional space for transfers or information
These schedules can be attached if more room on Form 706 is required.
✓ Verify the attachment of Schedule(s) W if you exceed the space provided on Form 706.
Filing solely to elect portability of DSUE amount when gross estate + adjusted taxable gifts < basic exclusion amount
Consideration should be given regarding whether the value of assets eligible for marital or charitable deduction must still be reported on Schedule G.
✓ Review the instructions to determine if reporting asset values is mandatory even under this specific condition.
Not stated in the official source — verify on the agency site
Deadline or filing window
The filing window is tied directly to the main Form 706. The form itself does not specify a deadline date or day-count period for submission, but it must accompany Form 706.
Checklist
What you need before filling it out
Line 1
Transfers includible under sections 2035(a), 2036, 2037, or 2038 · Page 1/Page 2
Column (iv)
Alternate valuation date · Page 1/Page 2
Line 4
Gift tax paid or payable by the decedent or spouse within 3 years before death (section 2035(b)) · Page 2
Total (Line 5)
Sum of Lines 2, 3, and 4 · Page 2
Before you submit
- 1Confirm the decedent's name matches exactly as it appears on Form 706.
- 2Verify that all transfers are listed under section 2035(a), 2036, 2037, or 2038.
- 3Ensure CUSIP numbers are entered for securities (or EIN for trust/partnership/closely held entity).
- 4Check the Alternate valuation date and corresponding value for each transfer listed on Page 1 or Page 2.
- 5Verify that Line 5 (Total) correctly adds Lines 2, 3, and 4 from Page 2.
- 6Confirm that if electing section 2032A valuation, Schedule T (Form 706) is also complete.
- 7Review the instructions to see if you must report asset values even if filing solely for portability.
How to file this form
- 1Enter the decedent's name and social security number on Page 1 of Schedule G (Form 706).
- 2List all transfers includible under sections 2035(a), 2036, 2037, or 2038 in the itemized columns on Page 1 or Page 2.
- 3Calculate and enter the total of attached Schedule(s) W (Form 706) onto Line 3 of Page 2.
- 4Sum all amounts from Lines 2, 3, and 4 to determine the final Total amount on Line 5 of Page 2.
- 5Attach this completed Schedule G (Form 706) to Form 706, ensuring the final total is entered into Part V, item 7 of that main form.
- 6If electing section 2032A valuation, ensure Schedule T (Form 706) is also attached and complete.
- 7Submit the completed package to the Department of the Treasury, Internal Revenue Service.
Known limitations
- 1If the value of the gross estate, together with the amount of adjusted taxable gifts, 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 filer is required to report the value of assets eligible for the marital or charitable deduction on Schedule G (Form 706) [Instructions p.1].
- 2If more space is needed on Schedule G (Form 706), the filer must attach Schedule(s) W (Form 706) or additional statements [Form p.1].
- 3If a transfer is includible under sections 2035(a), 2036, 2037, or 2038, it must be entered on Schedule G (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 edition is August 2025 (8-2025), and the form directs users to www.irs.gov/Form706 for the latest information.
What changed or needs a fresh check
- Edition date — confirm it reads August 2025 (8-2025)
- OMB Number — confirm it is 1545-0015
- Required Attachments — confirm Schedule T (Form 706) is complete if electing section 2032A valuation
- Value Reporting — confirm you have addressed whether to report asset values eligible for marital or charitable deduction
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed Schedule G (Form 706) for records.
- 2The total amount from line 5 on Schedule G (Form 706), which is the sum of lines 2, 3, and 4, must be entered on Form 706, Part V, item 7 [Form p.2].
- 3If electing section 2032A valuation, the filer must also complete Schedule T (Form 706) in addition to Schedule G (Form 706) [Instructions p.1].
Sources
- SRCSchedule G (Form 706) is for Transfers During the Decedent’s Lifetime, attaching to Form 706 [Instructions p.1].
- SRCIf electing section 2032A valuation, Schedule G (Form 706) must be completed along with Schedule T (Form 706) [Instructions p.1].
- SRCSchedule(s) W (Form 706) or additional statements are attached if more space is needed on Schedule G (Form 706) [Form p.1].
- SRCTransfers includible under sections 2035(a), 2036, 2037, or 2038 must be entered on Schedule G (Form 706) [Form p.1].
- SRCLine 2 of Schedule G (Form 706) is the sum of alternate values (column v) or value at date of death (column vi) for each transfer [Form p.2].
- SRCLine 3 of Schedule G (Form 706) is the total from any attached Schedule(s) W (Form 706) or additional statements [Form p.2].
Common confusion points
What do I enter if I don't need to report an asset's value?
The instructions state that even if not required to report, the property must still be identified on Schedule G (Form 706) [Instructions p.1].
→ Identify the property but make no entries in the last three columns.
How do I calculate line 5 on Schedule G (Form 706)?
Line 5 is the total derived by adding lines 2, 3, and 4 of Schedule G (Form 706) [Form p.2].
→ Ensure you add all amounts from column (v) or column (vi) for line 2.
What does 'CUSIP number' mean when listing a transfer?
It is the specific identifier used for securities listed on an exchange [Form p.1].
→ Enter this number in column (iii) if the transfer is a security.
When do I use Schedule G (Form 706)?
This schedule reports transfers that occurred during the decedent's lifetime, and it attaches to Form 706 [Instructions p.1].
→ Check if your transfers fall under sections 2035(a), 2036, 2037, or 2038.
What is line 4 on Schedule G (Form 706)?
Line 4 represents the total gift tax paid or payable by the decedent or the estate for gifts made within 3 years before death [Form p.2].
→ This relates to section 2035(b) and must be totaled separately.
If I have multiple transfers, how do they get added up?
Transfers are listed individually starting on line 1 (continued) of Schedule G (Form 706), and the totals accumulate through lines 2, 3, and 4 [Form p.2].
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Complete Schedule T (Form 706) alongside Schedule G (Form 706) [Instructions p.1].
Questions about IRS Form 706-SG
What is IRS Form 706-SG used for?
This form details assets that were transferred while someone was alive but before they passed away. It helps report these transfers to the IRS when filing the main estate tax return (Form 706). If you choose a special valuation method, this schedule is required.
Who must file IRS Form 706-SG?
The filer must be the entity responsible for filing Form 706, as it relates to the decedent’s property. The form requires identification of the Decedent’s name and social security number.
What information does IRS Form 706-SG require?
Schedule G (Form 706) collects details on transfers includible under sections 2035(a), 2036, 2037, or 2038. Line 1 lists the specific transfer details, while Line 5 totals these amounts for inclusion on Form 706.
When is IRS Form 706-SG due?
The official source does not state a filing deadline date; however, it is attached to Form 706, which governs the reporting period.
Where do I file IRS Form 706-SG?
The form must be submitted with Form 706. Instructions direct users to www.irs.gov/Form706 for further guidance on where to send the materials.
How do I complete IRS Form 706-SG?
The filer must enter transfers under sections 2035(a), 2036, 2037, or 2038 onto Line 1. For each transfer, provide item number, description, CUSIP/EIN, alternate valuation date, alternate value, and value at date of death (lines 1-vi). Finally, total these amounts on Line 5.
What happens if IRS Form 706-SG is filed incorrectly?
If required to report an asset's value but fails to do so, consideration should be given as to whether reporting is necessary if the gross estate plus adjusted taxable gifts is less than the basic exclusion amount.
What do I enter if I don't need to report an asset's value?
The instructions state that even if not required to report, the property must still be identified on Schedule G (Form 706) [Instructions p.1]. Identify the property but make no entries in the last three columns.
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