Form 706-GS(T) – Generation-Skipping Transfer Tax Return for Terminations

Last reviewed: 2025-10-26

Use the Form 706-GS(T): GST Tax on Terminations Tax Form Calculator Form 706-GS(T): GST Tax on Terminations as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 706gst state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Form 706-GS(T) is used to report taxable terminations of interests in a trust that are subject to Generation-Skipping Transfer (GST) tax. A taxable termination occurs when an interest in a trust terminates and all remaining interests are held by skip persons—individuals two or more generations below the grantor.

Who Must File: The trustee of a trust experiencing a taxable termination must file Form 706-GS(T) and compute any applicable GST tax due. The form must also include an attached Schedule A for each trust and skip person affected by the termination.

Generation-Skipping Transfer Tax Return For Terminations
Part I General Information
1a	Name of trust		1b	Trust’s employer identification number (see instructions)
2a	Name of trustee
2b	Trustee’s address (number and street or P.O. box; apt. or suite no.; city, town or post office; state and ZIP code) If you have a foreign address, also complete the spaces below (see instructions).
Foreign country name		Foreign province/county	Foreign postal code
Part II Trust Information (see the instructions)
				Yes	No	Sch. A number(s)
3	Has any exemption been allocated to this trust by reason of the deemed allocation rules of section 2632? If “Yes,” describe the allocation on the line 7, Schedule A, attachment showing how the inclusion ratio was calculated
4	Has property been contributed to this trust since the last Form 706-GS(T) or 706-GS(D-1) was filed? If “Yes,” attach a schedule showing how the inclusion ratio was calculated
5	Have any terminations occurred that are not reported on this return because of the exceptions in section 2611(b)(1) or (2) relating to medical and educational exclusions and prior payment of Generation-Skipping Transfer (GST) tax? If “Yes,” attach a statement describing the termination
6	Have any contributions been made to this trust that were not included in calculating the trust’s inclusion ratio? If “Yes,” attach a statement explaining why the contribution was not included
7	Has the special QTIP election in section 2652(a)(3) been made for this trust?
8	If this is not an explicit trust (see the instructions under Who Must File), check here and attach a statement describing the trust arrangement that makes its effect substantially similar to an explicit trust ▸
Part III Tax Computation
9a Summary of attached Schedules A (see instructions for line 9b)
Schedule A No.					GST tax (from Sch. A, line 10)
1	. . . . . . . . . . . . . . . . . . . .			9a1
2	. . . . . . . . . . . . . . . . . . . .			9a2
3	. . . . . . . . . . . . . . . . . . . .			9a3
4	. . . . . . . . . . . . . . . . . . . .			9a4
5	. . . . . . . . . . . . . . . . . . . .			9a5
6	. . . . . . . . . . . . . . . . . . . .			9a6
9b	Total from all additional Schedules A, in excess of six, attached to this form ▸			9b
10	Total GST tax (add lines 9a1 through 9b)			10
11	Payment, if any, made with Form 7004			11
12	Tax due. If line 10 is larger than line 11, enter the amount owed			12
13	Overpayment. If line 11 is larger than line 10, enter amount to be refunded			13
Sign Here	Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer other than fiduciary is based on all information of which preparer has any knowledge.

	▸ Signature of fiduciary or officer representing fiduciary		Date
Paid Preparer Use Only	Print/Type preparer’s name	Preparer's signature	Date	Check if self-employed		PTIN
	Firm’s name ▸		Firm's EIN ▸
	Firm's address ▸		Phone no.
Name of trust			EIN of trust
Schedule A No.		Note. Make copies of this schedule before completing it if you will need more than one Schedule A.
Schedule A—Taxable Terminations (See the instructions before completing this schedule.)
a Name of skip persons		b SSN or EIN of skip person	c Item no. from line 4 below in which interest held
1











2	Describe the terminating power or interest. If you need more space, attach an additional sheet.

3	If you elect alternate valuation, check here (see the instructions)
4	Describe each taxable termination below (see the instructions)
a Item no.	b Description of property subject to termination	c Date of termination	d Valuation date	e Value












Total ▸				4
5	Total deductions applicable to this Schedule A (from attached Schedule B, line 5)			5
6	Taxable amount (subtract line 5 from line 4)			6
7	Inclusion ratio (attach separate schedule showing computation)			7
8	Maximum federal estate tax rate (see Table in the instructions)			8	%
9	Applicable rate (multiply line 7 by line 8)			9
10	GST tax (multiply line 6 by line 9) (enter here and on page 1, Part III, line 9)			10
Name of trust			Schedule A No. ▸
			EIN of trust
Note. Make copies of this schedule before completing it if you will need more than one Schedule B.
Schedule B(1)—General Trust Debts, Expenses, and Taxes (Section 2622(b)) (Enter only items related to the entire trust; see the instructions.)
a Item no.	b Description			c Amount

















1	Total of Schedule B(1)			1
2	Percentage allocated to corresponding Schedule A			2	%
3	Net deduction (multiply line 1 by line 2)			3
Schedule B(2)—Specific Termination-Related Debts, Expenses, and Taxes (Section 2622(b)) (Enter only items related solely to terminations appearing on corresponding Schedule A; see the instructions.)
a Item no.	b Description			c Amount

















4	Total of Schedule B(2)			4
5	Total. Add lines 3 and 4 (enter here and on line 5 of the corresponding Schedule A)			5

Deadline: File Form 706-GS(T) by April 15 of the year following the calendar year in which the taxable termination occurred. Extensions can be requested using Form 8892. Failure to file may result in interest and penalties.

Last reviewed: 2025-10-26: If you believe this form requires an update, please contact us.

Trust terminations that benefit skip persons often involve substantial asset transfers and trigger GST liability unless properly allocated exemptions exist. Trustees should ensure accurate reporting of trust details, inclusion ratios, and fair market values on each Schedule A attached to the form. The IRS requires separate filing for each trust termination event, and documentation must include supporting schedules and beneficiary information.

Frequently Asked Questions

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Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.