EST2506. Paying the GST Tax – A Guide to Reporting Allocations and Direct Skips at Death, Taxable Distributions, Taxable Terminations and Qualified Severances of Trusts

This session will cover the reporting of GST tax allocations and payments at death as well as taxable distributions and taxable terminations and how to report a qualified severance of a trust. Forms to be discussed are: • Form 706 Schedules R Generation-skipping Transfer Tax • Form 706 Schedule R-1 Direct Skips From a Trust Payment Voucher • Notification of a Distribution from a Generation-skipping Trust Form 706-GS(D-1) • Generation-Skipping Transfer Tax Return for Distributions Form 706- GS(D) • Generation-Skipping Transfer Tax Return for Terminations Form 706- GS(T) Including Reporting a Qualified Severance