• Form 706 is used by the executor of a deceased person to calculate inheritance tax owed under Chapter 11 of the Internal Revenue Code (IRC) and to calculate Generation Pass Transfer Tax (GSTT) under Chapter 13 of the IRC. .

  • Form 706 must be filed on behalf of a deceased U.S. citizen or resident whose total assets, adjusted taxable gifts, and specific benefits exceed $11.7 million in 2021 ($12.06 million in 2022).
  • Form 706-GS(D) is used to calculate taxes due on trust distributions subject to skip generation tax (GSTT).