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Official form guide
Form 706-SC: 706 (Schedule C)
IRS Form 706 Schedule C is the Schedule for reporting mortgages, notes, and cash included in a decedent’s gross estate. It is attached to Form 706 and used when the estate’s value together with adjusted taxable gifts is less than the basic exclusion amount and the return is filed solely to elect portability of the DSUE amount.
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IRS Form 706-SC - 706 (Schedule C)
IRS Form 706 Schedule C is the Schedule for reporting mortgages, notes, and cash included in a decedent’s gross estate. It is attached to Form 706 and used when the estate’s value together with adjusted taxable gifts is less than the basic exclusion amount and the return is filed solely to elect portability of the DSUE amount.
Risk Radar
Scan points- 1Failing to report required mortgage, note, or cash values in columns (iv) or (v) triggers penalties.
- 2Leaving columns (iv) and (v) blank for assets that must have a reported value.
- 3Entering values in columns (iv) or (v) for assets that are not required to be reported.
- 4Failing to add the amounts from columns (iv) or (v) to line 2, resulting in an incorrect total.
- 5Omitting the total from Schedule(s) W on line 3, causing the Schedule C total to be incomplete.
Plain English
Schedule C lists every mortgage, promissory note, or cash holding that belongs to the estate. The executor fills in the description, any alternate valuation date, and the value at death, then totals the amounts. Those totals are reported on the main estate tax return, Form 706.
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 you need to report mortgages, notes, or cash that are included in the decedent’s gross estate, especially when filing Form 706 to elect portability of the DSUE amount.
- Do not use it when the property is jointly owned and must be reported on Schedule E (Form 706).
- Check Schedule E (Form 706) instead when the property is jointly owned and should be disclosed there.
Form selector
Use this form or another form?
Jointly owned real property
Joint ownership must be reported on Schedule E, not Schedule C
✓ Confirm ownership type on the deed
Additional mortgages, notes, or cash beyond space on Schedule C
Extra items require attachment of Schedule W
✓ Verify total count exceeds Schedule C capacity
Filing solely to elect portability of DSUED
Portability election requires filing Form 706 even if estate value is below the exclusion
✓ Ensure portability election box is checked on Form 706
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Decedent’s name
Decedent’s legal name as on Form 706 · Form 706 header
Decedent’s social security number
SSN card or IRS records · Form 706 header
Item number
Assigned sequential number for each mortgage/note · Column (i) of Schedule C
Description
Legal description of mortgage, note, or cash · Column (ii) of Schedule C
Value at date of death
Appraisal or statement of amount owed/held · Column (v) of Schedule C
Before you submit
- 1Enter the decedent’s name exactly as it appears on Form 706
- 2Enter the decedent’s social security number
- 3List each mortgage, note, or cash item with a unique item number
- 4Provide a clear description for each listed item
- 5Enter the value at date of death in column (v) for each item
- 6If using an alternate valuation date, fill column (iv) with the alternate value
- 7Add all amounts in column (iv) or column (v) on line 2
- 8Add totals from any attached Schedule W on line 3
- 9Calculate the final total on line 4 and transfer it to Form 706 Part V, item 3
- 10Attach Schedule C (and any Schedule W) to the completed Form 706 before mailing
How to file this form
- 1Complete all required entries on Schedule C
- 2Calculate totals on lines 2, 3, and 4
- 3Transfer the line 4 total to Form 706 Part V, item 3
- 4Attach Schedule C (and any Schedule W) to Form 706
- 5Mail the assembled return to the IRS address for Form 706
- 6Obtain a mailing receipt as proof of filing
Known limitations
- 1Do not report assets that are not mortgages, notes, or cash on Schedule C
- 2If an asset’s value is not required to be reported, list the property but leave the last three columns blank
- 3Jointly owned property must be reported on Schedule E (Form 706), not on Schedule C
- 4When filing solely for portability, consider whether marital or charitable deduction assets need reporting on this schedule
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.
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Fillable formOpen in Editor->The Schedule C (Form 706) revision date is August 2025. The form directs users to www.irs.gov/Form706 for the latest information; no specific changes are noted in the source.
What changed or needs a fresh check
- Edition date — confirm the revision reads August 2025
- Instructions page — verify the link to www.irs.gov/Form706 for latest information
- Fee — Not stated in the official source
- Mailing address — Not stated in the official source
- Signature — Not stated in the official source
Quick Facts
Downloads
After you file
- 1Retain a complete copy of Schedule C and the attached Form 706 for at least three years
- 2Store the records in a secure location in case of IRS inquiry
- 3Watch for an IRS acknowledgment letter confirming receipt
- 4If an error is discovered, file an amended return using Form 706-X
- 5Update any estate tax accounting records to reflect the reported values
- 6Keep documentation of any attached Schedule W for future reference
Sources
- SRCForm p.1 — revision date is August 2025
- SRCForm p.1 — link to www.irs.gov/Form706 for latest information
- SRCForm p.1 — jointly owned property must be disclosed on Schedule E (Form 706)
- SRCForm p.1 — attach Schedule(s) W (Form 706) if more space is needed
- SRCForm p.1 — note about filing solely to elect portability of the DSUE amount
- SRCForm p.2 — line 2 adds amounts in column (iv) or (v)
- SRCForm p.2 — line 3 totals from Schedule W attached to this schedule
- SRCForm p.2 — line 4 total is entered on Form 706, Part V, item 3
- SRCForm p.1 — if not required to report value, identify property but leave last three columns blank
- SRCNot stated in the official source — verify on the agency site
Common confusion points
Do I need to fill columns (iii)–(v) if I have no alternate valuation date?
The alternate valuation date column (iii) is optional; if not used, leave it blank and fill column (v) with the date‑of‑death value.
→ Verify that column (iv) is also blank when no alternate date is chosen.
What if the mortgage is jointly owned?
Joint ownership belongs on Schedule E, not Schedule C.
→ Confirm ownership status and use Schedule E instead.
When should I attach Schedule W?
Schedule W is required only when additional mortgages, notes, or cash exceed the space on Schedule C.
→ Check the number of items and attach Schedule W if needed.
How do I report cash holdings?
Cash is treated like any other item; list it with a description and provide its value at date of death.
→ Ensure cash is entered in column (v) with an appropriate description.
Do I need to report assets eligible for marital or charitable deductions when filing for portability?
The note advises consideration of reporting such assets on Schedule C.
→ Review the instructions and include those values if required.
Where do I enter the total from Schedule C on Form 706?
The total from line 4 is entered on Form 706, Part V, item 3.
→ Verify that the transferred amount matches line 4 before signing.
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Questions about IRS Form 706-SC
What is IRS Form 706-SC used for?
Schedule C lists every mortgage, promissory note, or cash holding that belongs to the estate. The executor fills in the description, any alternate valuation date, and the value at death, then totals the amounts. Those totals are reported on the main estate tax return, Form 706.
What information does IRS Form 706-SC require?
Schedule C collects the item number, description, alternate valuation date, alternate value, and value at date of death for each mortgage, note, or cash asset.
How do I complete IRS Form 706-SC?
Enter each mortgage, note, or cash item in the rows, completing columns (i) Item number, (ii) Description, (iii) Alternate valuation date, (iv) Alternate value, and (v) Value at date of death. Sum the amounts in column (iv) or (v) on line 2, add any totals from attached Schedule(s) W on line 3, and place the combined total on line 4, then transfer that amount to Form 706 Part V, item 3. If an asset is not required to be reported, list the property but leave columns (iii)–(v) blank as instructed.
Do I need to fill columns (iii)–(v) if I have no alternate valuation date?
The alternate valuation date column (iii) is optional; if not used, leave it blank and fill column (v) with the date‑of‑death value. Verify that column (iv) is also blank when no alternate date is chosen.
What if the mortgage is jointly owned?
Joint ownership belongs on Schedule E, not Schedule C. Confirm ownership status and use Schedule E instead.
When should I attach Schedule W?
Schedule W is required only when additional mortgages, notes, or cash exceed the space on Schedule C. Check the number of items and attach Schedule W if needed.
How do I report cash holdings?
Cash is treated like any other item; list it with a description and provide its value at date of death. Ensure cash is entered in column (v) with an appropriate description.
Do I need to report assets eligible for marital or charitable deductions when filing for portability?
The note advises consideration of reporting such assets on Schedule C. Review the instructions and include those values if required.
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