Section 6166(b)(6) Adjusted Gross Estate - Computation Example 1

(b6) - Section 6166(b)(6) - Adjusted Gross Estate

Section 6166(b)(6)

A regular §6166(b)(6) adjusted gross estate computation without any complications. The return is filed on the return due date. The §6166 Notice of Election elects to defer the maximum amount of tax eligible for deferral under §6166(a)(2).

Section 6166(b)(6) Adjusted Gross Estate Computation - Example 1
This is a regular section 6166(b)(6) adjusted gross estate computation without any complications. The return is filed on the statutory return due date and the non-deferred tax is paid with the return.
Feb-17-2016	Date of death
Nov-17-2016	Estate tax return due date and return filing date.

Section 6166(b)(6) Adjusted Gross Estate Computation - Example 1
Gross estate						50,000,000.00
Schedule J -
	A.	Funeral expenses			25,000.00
	B.	1.	Executors' commissions		1,000,000.00
		2.	Attorney fees		1,400,000.00
		3.	Accountant fees		415,000.00
		4.	Miscellaneous
			a.	Appraisals	250,000.00
			b.	Utilities	14,375.00
			c.	Other	1,215.00
	Total Schedule J				3,105,590.00
Schedule K - Debts
	Debts of decedent				144,535.00
Schedule K - Mortgages and Liens
	Mortgages				876,550.00
	Total Schedule K				1,021,085.00
Total Schedules J and K debts and expenses					4,126,675.00
Allowable amount of deductions					4,126,675.00
Schedule L - Net Losses					0
Schedule L - Expenses on property not subject to claims					0
Total Schedules J, K, and L debts and expenses					4,126,675.00	4,126,675.00
Section 6166(b)(6) adjusted gross estate						45,873,325.00

Section 6166(b)(6) Adjusted Gross Estate Computation - Example 1 §6166(a)(2) Ratio Computation
Section 6166 business value, divided by		37,500,000.00
Section 6166(b)(6) adjusted gross estate, yields		45,873,325.00
Section 6166(a)(2) ratio - maximum amount of tax which may be paid in installments		0.817469

Section 6166(b)(6) Adjusted Gross Estate Computation - Example 1

§6166/K/4