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Official form guide
Form 706-SG: 706 (Schedule G)
IRS Form 706 Schedule G is used to report transfers made by a decedent during life when a section 2032A valuation election is made, and to calculate related gift tax items. The decedent’s estate files it with Form 706.
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IRS Form 706-SG - 706 (Schedule G)
IRS Form 706 Schedule G is used to report transfers made by a decedent during life when a section 2032A valuation election is made, and to calculate related gift tax items. The decedent’s estate files it with Form 706.
Risk Radar
Scan points- 1Omitting Schedule G when a section 2032A valuation election is made can invalidate the election.
- 2Failing to list a transfer on line 1 that is required under sections 2035(a)–2038.
- 3Leaving columns (v) and (vi) blank for a transfer that has an alternate or death‑date value.
- 4Not adding the amounts on line 2, resulting in an incorrect subtotal.
- 5Omitting totals from attached Schedule W on line 3 when additional statements are required.
Plain English
Schedule G lists any gifts the deceased gave while alive that affect the estate tax. It adds up the values, any gift tax already paid, and sends the total to the main estate‑tax return. This helps determine the tax due.
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 you have elected a section 2032A valuation on Form 706 and need to report transfers made by the decedent during life.
- Do not use it when you are not making a section 2032A election or filing Form 706 without lifetime transfer reporting.
- Check Schedule T (Form 706) instead when you need to provide alternate valuations for assets under the section 2032A election.
Form selector
Use this form or another form?
Need to report alternate valuation of assets under section 2032A
Provides alternate valuation dates and values required by section 2032A
✓ Confirm election of section 2032A on Form 706
Additional space needed for more transfers
Allows reporting of extra items beyond Schedule G capacity
✓ Ensure Schedule W is attached to Schedule G
Filing solely to elect portability of DSUE amount
Portability election may not require detailed asset values on Schedule G
✓ Verify whether asset values are required per Schedule G instructions
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Decedent’s name and SSN
Decedent’s legal name and Social Security Number · Header of Schedule G (Form 706)
Section 2032A election
Statement of election on Form 706 · Instructions note on Schedule G page 1
Transfer entries (item number, description, value)
Details of each lifetime transfer, including CUSIP/EIN if applicable · Columns (i)-(vi) of Schedule G
Line 2 total
Sum of column (v) or (vi) amounts · Line 2 field on page 2
Line 4 gift tax paid
Records of gift tax paid by decedent or estate within 3 years of death · Line 4 field on page 2
Before you submit
- 1Verify decedent’s name and SSN are entered exactly as on Form 706.
- 2Confirm the section 2032A election is indicated on Form 706.
- 3Enter each transfer in columns (i) through (vi) as required.
- 4Calculate and enter the total for column (v) or (vi) on line 2.
- 5Attach any required Schedule W(s) for additional transfers.
- 6Enter any gift tax paid on line 4.
- 7Add lines 2, 3, and 4 and transfer the total to Form 706, Part V, item 7.
- 8Sign the form where indicated.
- 9Make a copy of the completed Schedule G for your records.
- 10Mail the package to the IRS address shown in the instructions.
How to file this form
- 1Complete Schedule G (Form 706) with all required transfer details.
- 2Attach Schedule T (Form 706) if alternate valuations are used.
- 3Attach Schedule W (Form 706) for any additional transfers beyond Schedule G capacity.
- 4Add amounts from column (v) or (vi) on line 2.
- 5Add totals from attached Schedule W(s) on line 3.
- 6Enter gift tax paid on line 4.
- 7Add lines 2, 3, and 4 and enter the result on Form 706, Part V, item 7.
- 8Obtain mailing receipt as proof of filing.
Known limitations
- 1Schedule G does not apply when no section 2032A valuation election is made.
- 2If you are not required to report the value of an asset, only identify the property and leave the last three columns blank.
- 3When filing solely to elect portability and the estate value is below the basic exclusion amount, Schedule G may not be required for marital or charitable deduction assets.
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->Schedule G (Form 706) is dated August 2025 (created 6/11/25). 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 August 2025 (source: Form p.1)
- 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
- 1Store the signed Schedule G and all attachments for at least seven years.
- 2Keep the copy with the estate’s tax records.
- 3Monitor for IRS acknowledgment or notice regarding the filing.
- 4If an error is discovered, file an amended Schedule G with a corrected Form 706.
- 5Retain proof of mailing as part of the filing record.
Sources
- SRCForm p.1 — note that if you elect section 2032A valuation, you must complete Schedule G (Form 706) and Schedule T (Form 706).
- SRCForm p.1 — instruction to attach Schedule G to Form 706.
- SRCForm p.1 — direction to go to www.irs.gov/Form706 for instructions and the latest information.
- SRCForm p.1 — statement that if more space is needed, attach Schedule(s) W (Form 706) or additional statements.
- SRCForm p.2 — line 2 instruction to add all amounts in column (v) or column (vi), as applicable.
- SRCForm p.2 — line 3 instruction to total from Schedule(s) W (Form 706) attached to this schedule.
- SRCForm p.2 — line 4 instruction about gift tax paid within 3 years before death (section 2035(b)).
- SRCForm p.2 — line 5 instruction to add lines 2, 3, and 4 and enter on Form 706, Part V, item 7.
- SRCForm p.1 — note that if you are not required to report the value of an asset, identify the property but make no entries in the last three columns.
- SRCForm p.1 — header showing revision date August 2025 and created date 6/11/25.
Common confusion points
When should I use the alternate value column vs. the value at date of death column?
Confusion between column (v) and column (vi) totals.
→ Use the column that applies to the valuation method indicated for each asset.
Do I need to fill the last three columns for every asset?
Instruction says to leave them blank if not required to report value.
→ Identify the property and leave those columns empty when reporting is not required.
How do I total columns (v) and (vi) on line 2?
Users may add both columns instead of selecting one.
→ Add only the amounts from the column that is applicable for each asset.
Is Schedule W required for every extra transfer?
Misunderstanding that Schedule W is only needed when Schedule G space runs out.
→ Attach Schedule W only when additional transfers exceed Schedule G capacity.
What qualifies as gift tax paid on line 4?
Uncertainty about which taxes to include.
→ Include any gift tax paid or payable by the decedent or estate for gifts made within three years before death.
Do I need to file Schedule T if I elect section 2032A?
Some filers think Schedule G alone suffices.
→ File Schedule T alongside Schedule G whenever a section 2032A valuation election is made.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 706 — file an amended return to correct Schedule G errors.
Questions about IRS Form 706-SG
What is IRS Form 706-SG used for?
Schedule G lists any gifts the deceased gave while alive that affect the estate tax. It adds up the values, any gift tax already paid, and sends the total to the main estate‑tax return. This helps determine the tax due.
What information does IRS Form 706-SG require?
It collects details of each transfer includible under sections 2035(a)–2038, including description, CUSIP or EIN, alternate valuation date, alternate value, and value at date of death, plus totals from Schedule W and any gift tax paid within three years before death.
How do I complete IRS Form 706-SG?
First list each lifetime transfer on line 1, providing description, CUSIP/EIN, and valuation dates. Then sum the alternate or death‑date values on line 2, add totals from any attached Schedule W on line 3, and include any gift tax paid for gifts made within three years on line 4. Finally, add lines 2‑4 on line 5 and transfer that total to Form 706, Part V, item 7.
When should I use the alternate value column vs. the value at date of death column?
Confusion between column (v) and column (vi) totals. Use the column that applies to the valuation method indicated for each asset.
Do I need to fill the last three columns for every asset?
Instruction says to leave them blank if not required to report value. Identify the property and leave those columns empty when reporting is not required.
How do I total columns (v) and (vi) on line 2?
Users may add both columns instead of selecting one. Add only the amounts from the column that is applicable for each asset.
Is Schedule W required for every extra transfer?
Misunderstanding that Schedule W is only needed when Schedule G space runs out. Attach Schedule W only when additional transfers exceed Schedule G capacity.
What qualifies as gift tax paid on line 4?
Uncertainty about which taxes to include. Include any gift tax paid or payable by the decedent or estate for gifts made within three years before death.
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