Form 706 Completion when Only filing for Portability

4 views
Skip to first unread message

giraffes5gb

unread,
Mar 25, 2023, 2:59:14 PM3/25/23
to ClientWhysConnect
Hello,

I have a client that does not need to file form 706. His wife passed and her estate value is at about $2m.

The widow wants to make the Portability election. Does form 706 have to be completely prepared with asset values and all info if only filed for portability?

Thanks for any input!!

Joy Java CPA

Lee Reams

unread,
Mar 25, 2023, 3:18:25 PM3/25/23
to clientwh...@googlegroups.com
This in from the the instructions for 706.  However when searching the instruction using “portability” there were over 40 hits. I did have time to review them all. It might be appropriate for you to do so.
Lee

Screenshot 2023-03-25 at 12.13.08 PM.png




--
You are subscribed to the ClientWhysConnect group.
Post Address: clientwh...@googlegroups.com
Unsubscribe Address: clientwhysconn...@googlegroups.com
For more options, visit this group at
http://groups.google.com/group/clientwhysconnect?hl=en?hl=en
 
Disclaimer --- You use the information shared on ClientWhysConnect.com at your own risk. The information is based upon unsubstantiated member opinions and if you have concerns about the validity of the information you should research the issue thoroughly yourself and arrive at your own conclusions. We will never share any of the information you’ve provided to the ClientWhysConnect.com list with anyone.
---
You received this message because you are subscribed to the Google Groups "ClientWhysConnect" group.
To unsubscribe from this group and stop receiving emails from it, send an email to clientwhysconn...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/clientwhysconnect/094803f8-1b24-4b74-9450-eb7452dabd17n%40googlegroups.com.


 

PastedGraphic-2.tiff


Lee Reams Sr., BSME, EA
Chief Content Officer
CountingWorks Pro | CountingWorks | TaxBuzz | TaxCPE
p:1.800.442.2477 x240
w:www.countingworkspro.com/  e: lee....@countingworks.com
      
 
See how CountingWorks can grow your practice.

 






Joy Anna Java

unread,
Mar 25, 2023, 3:29:21 PM3/25/23
to clientwh...@googlegroups.com
Thanks Lee! That helps. I will do that. 

Joy Anna Java, CPA
Freedomtaxdupont.com


Diana Skocypec

unread,
Mar 25, 2023, 4:34:15 PM3/25/23
to clientwh...@googlegroups.com
When I prepared one, I did include values.  It just didn't seem right not to, even if the instructions indicate otherwise.

--
You are subscribed to the ClientWhysConnect group.
Post Address: clientwh...@googlegroups.com
Unsubscribe Address: clientwhysconn...@googlegroups.com
For more options, visit this group at
http://groups.google.com/group/clientwhysconnect?hl=en?hl=en
 
Disclaimer --- You use the information shared on ClientWhysConnect.com at your own risk. The information is based upon unsubstantiated member opinions and if you have concerns about the validity of the information you should research the issue thoroughly yourself and arrive at your own conclusions. We will never share any of the information you’ve provided to the ClientWhysConnect.com list with anyone.
---
You received this message because you are subscribed to the Google Groups "ClientWhysConnect" group.
To unsubscribe from this group and stop receiving emails from it, send an email to clientwhysconn...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/clientwhysconnect/094803f8-1b24-4b74-9450-eb7452dabd17n%40googlegroups.com.


--
Diana L. Skocypec
A Tax Lady for All Seasons
Enrolled Agent,  Personal Financial Planner, Notary Public
 

Mobile by Request
 
 5999 B Ridge View Street
Camarillo Springs, CA 93012
 

This message is intended only for the use of the individual or entity to which it is addressed, and may contain information that is privileged, confidential and exempt from disclosure under applicable law.  If the reader of this message is not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any distribution or copying of this communication is strictly prohibited.  If you have received this communication in error, please notify us immediately and return the original message to us without reading or copying it.  Any transmission to or reception of this communication by anyone other than the intended recipient is an inadvertent disclosure and does not waive any applicable privilege.  Thank you.


dbhol...@gmail.com

unread,
Mar 25, 2023, 5:13:33 PM3/25/23
to clientwh...@googlegroups.com

Just confirming that the extension to October include the filing and paying penalty.  No interest accrues after April like in a normal year.

 

Thank You

Lee Reams

unread,
Mar 26, 2023, 1:29:58 AM3/26/23
to clientwh...@googlegroups.com
Hmmm,.. I sent out a white and did 15 webcast on the extensions.
Yes the extension also applies to payments as well but there 4 counties that only payments dues after March 6 are extend and 3 counties none the extension apply.  See to attached webinar syllabus.
 

OCT 16-Textdocx.pdf
PastedGraphic-2.tiff

Darrell Holder EA

unread,
Mar 26, 2023, 11:40:24 AM3/26/23
to clientwh...@googlegroups.com
I found it thanks Lee 

Darrell B Holder
American Empire
Broker
BRE 01143371
NMLS 310109



On Mar 25, 2023, at 10:29 PM, Lee Reams <lee....@clientwhys.com> wrote:

Hmmm,.. I sent out a white and did 15 webcast on the extensions.
Yes the extension also applies to payments as well but there 4 counties that only payments dues after March 6 are extend and 3 counties none the extension apply.  See to attached webinar syllabus.
 

--
You are subscribed to the ClientWhysConnect group.
Post Address: clientwh...@googlegroups.com
Unsubscribe Address: clientwhysconn...@googlegroups.com
For more options, visit this group at
http://groups.google.com/group/clientwhysconnect?hl=en?hl=en
 
Disclaimer --- You use the information shared on ClientWhysConnect.com at your own risk. The information is based upon unsubstantiated member opinions and if you have concerns about the validity of the information you should research the issue thoroughly yourself and arrive at your own conclusions. We will never share any of the information you’ve provided to the ClientWhysConnect.com list with anyone.
---
You received this message because you are subscribed to the Google Groups "ClientWhysConnect" group.
To unsubscribe from this group and stop receiving emails from it, send an email to clientwhysconn...@googlegroups.com.
On Mar 25, 2023, at 2:13 PM, <dbhol...@gmail.com> <dbhol...@gmail.com> wrote:

Just confirming that the extension to October include the filing and paying penalty.  No interest accrues after April like in a normal year.
 
Thank You

-- 
You are subscribed to the ClientWhysConnect group.
Post Address: clientwh...@googlegroups.com
Unsubscribe Address: clientwhysconn...@googlegroups.com
For more options, visit this group at
http://groups.google.com/group/clientwhysconnect?hl=en?hl=en
 
Disclaimer --- You use the information shared on ClientWhysConnect.com at your own risk. The information is based upon unsubstantiated member opinions and if you have concerns about the validity of the information you should research the issue thoroughly yourself and arrive at your own conclusions. We will never share any of the information you’ve provided to the ClientWhysConnect.com list with anyone.
--- 
You received this message because you are subscribed to the Google Groups "ClientWhysConnect" group.
To unsubscribe from this group and stop receiving emails from it, send an email to clientwhysconn...@googlegroups.com.

--
You are subscribed to the ClientWhysConnect group.
Post Address: clientwh...@googlegroups.com
Unsubscribe Address: clientwhysconn...@googlegroups.com
For more options, visit this group at
http://groups.google.com/group/clientwhysconnect?hl=en?hl=en
 
Disclaimer --- You use the information shared on ClientWhysConnect.com at your own risk. The information is based upon unsubstantiated member opinions and if you have concerns about the validity of the information you should research the issue thoroughly yourself and arrive at your own conclusions. We will never share any of the information you’ve provided to the ClientWhysConnect.com list with anyone.
---
You received this message because you are subscribed to the Google Groups "ClientWhysConnect" group.
To unsubscribe from this group and stop receiving emails from it, send an email to clientwhysconn...@googlegroups.com.

<PastedGraphic-2.tiff>


Lee Reams Sr., BSME, EA
Chief Content Officer
CountingWorks Pro | CountingWorks | TaxBuzz | TaxCPE
p:1.800.442.2477 x240
w:www.countingworkspro.com/  e: lee....@countingworks.com
      
 
See how CountingWorks can grow your practice.

 






--
You are subscribed to the ClientWhysConnect group.
Post Address: clientwh...@googlegroups.com
Unsubscribe Address: clientwhysconn...@googlegroups.com
For more options, visit this group at
http://groups.google.com/group/clientwhysconnect?hl=en?hl=en
 
Disclaimer --- You use the information shared on ClientWhysConnect.com at your own risk. The information is based upon unsubstantiated member opinions and if you have concerns about the validity of the information you should research the issue thoroughly yourself and arrive at your own conclusions. We will never share any of the information you’ve provided to the ClientWhysConnect.com list with anyone.
---
You received this message because you are subscribed to the Google Groups "ClientWhysConnect" group.
To unsubscribe from this group and stop receiving emails from it, send an email to clientwhysconn...@googlegroups.com.
Reply all
Reply to author
Forward
0 new messages