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Official form guide
Form 706-SPC: 706 (Schedule PC)
Form 706‑SPC (Schedule PC) is part of the federal estate tax return (Form 706). It lists the decedent’s property and liabilities at the time of death.
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IRS Form 706-SPC - 706 (Schedule PC)
Form 706‑SPC (Schedule PC) is part of the federal estate tax return (Form 706). It lists the decedent’s property and liabilities at the time of death.
Risk Radar
Scan points- 1A single mis‑reported asset can increase the estate tax bill by thousands of dollars.
- 2Undervaluing real‑estate or securities
- 3Omitting a liability such as a mortgage
- 4Using outdated fair‑market values
- 5Mismatched totals between Schedule PC and Form 706
Plain English
When someone dies and their estate may owe federal estate tax, the executor must report every asset and debt. Schedule PC is the worksheet that shows the value of each item, from cash to real estate, and the amounts owed.
Submission Date
- Filing date: 2025-08-29 22:10:20
- 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 when filing a federal estate tax return (Form 706).
- Do not use for gift tax returns (Form 709).
- If the estate is below the filing threshold, you may not need Form 706 at all.
Form selector
Use this form or another form?
Estate below filing threshold
No estate tax filing needed
✓ Verify estate value first
Non‑U.S. citizen decedent
Different filing rules for non‑resident estates
✓ Check residency rules
Estate with only a qualified revocable trust
Separate schedule for trusts
✓ Confirm trust qualification
Deadline or filing window
The estate tax return, including Schedule PC, is due 9 months after the decedent’s death. An automatic 6‑month extension can be requested using Form 4768, pushing the deadline to 15 months. No later extensions are permitted without IRS consent.
- —Total assets | Sum of all Schedule PC asset lines | Gross estate value | Verify no double‑counting
Checklist
What you need before filling it out
Real‑estate value
Recent appraisal or comparable sales · Appraisal report, MLS data
Cash and bank accounts
Bank statements · Year‑end statements
Mortgage liability
Loan payoff statement · Mortgage statement
Stock holdings
Brokerage statements · Year‑end holdings report
Life‑insurance proceeds
Policy death‑benefit statement · Insurance carrier notice
Before you submit
- 1All asset values are supported by a recent appraisal or reliable market data
- 2All liabilities are listed with current balances
- 3Totals on Schedule PC match the totals on Form 706
- 4Executor’s signature, title, and date are present
- 5Form 706 includes a completed Schedule PC attachment page
- 6If extending, Form 4768 is attached and mailed separately
- 7Payment (if any) is enclosed or electronic payment is authorized
- 8Correct IRS Service Center address is used
- 9Copies of supporting documents are retained for the estate’s records
- 10Form is the 2024 edition
How to file this form
- 1Collect all asset and liability documents within 30 days of death
- 2Determine fair market value for each item as of the date of death
- 3Enter each asset and liability on the appropriate line of Schedule PC
- 4Calculate totals and transfer them to the corresponding lines on Form 706
- 5Review for arithmetic errors and consistency across schedules
- 6Obtain executor’s signature and attach any required appraisals
- 7Mail (or e‑file) the complete package to the IRS Service Center before the deadline
Known limitations
- 1Form instructions do not provide specific valuation methods for unique assets
- 2IRS may request additional documentation after filing
- 3Electronic filing requires approved software; not all tax preparers have access
- 4The form does not capture state estate‑tax filing requirements
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->Check the IRS website for the latest revision date of Form 706‑SPC. The current version is the 2024 edition, but verify before filing.
What changed or needs a fresh check
- Edition date – confirm the form is the 2024 revision
- Fee – no filing fee for Form 706, but payment of tax may be required
- Mailing address – use the address for the IRS Service Center in the instructions
- Electronic filing – verify software supports the current edition
- Signature block – ensure the executor’s title matches the filing authority
Quick Facts
Downloads
After you file
- 1Keep a copy of the filed return and all supporting schedules for at least 7 years
- 2Track the IRS acknowledgment number if filed electronically
- 3Monitor any IRS notices for additional information requests
- 4Pay any assessed tax, interest, or penalties promptly
- 5Update the estate’s accounting records with the filed values
- 6Notify beneficiaries of the final estate tax filing status
Sources
- SRCForm 706 instructionsschedule descriptions
- SRCIRS Publication 559estate tax filing deadline
- SRCIRS websitecurrent edition date of Form 706‑SPC
- SRCForm 4768extension request procedure
- SRCIRS Service Center address listfiling location
- SRCNot found in provided sourceexact line numbers for Schedule PC fields
Common confusion points
Asset vs. liability classification
Executors often list a mortgage as an asset
→ Verify each line’s label
Fair market value date
Some think it’s the filing date, not date{of death}
→ Use the decedent’s death date
Jointly owned property
May be partially included in the estate
→ Check ownership agreements
Valuation of closely‑held business
No public market price
→ Use a qualified appraisal
Life‑insurance proceeds
Some are excluded, some taxable
→ Review policy ownership and beneficiary
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- File Form 1040‑X to amend the estate return
Source transparency
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