Generation-Skipping Transfer Tax Return For Terminations

Form 706gst: Generation-Skipping Transfer Tax Return For Terminations

Use Tax Form 706gst: Generation-Skipping Transfer Tax Return For Terminations as a stand alone tax form calculator to quickly calculate specific amounts for your 2025 tax return. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.

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

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