2011 Form 706 for decedents dying in 2011
ProSeriesDoes anyone know when ProSeries will release the 2011 Form 706?
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07/28/11 10:10am PDT
Viewed by asker 07/29/11 7:19am PDT
Viewed by asker 07/29/11 7:19am PDT
14 Replies
mojocpa
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07/28/11 10:37am PDT
But mojo, who cares when the IRS is going to release it, when is ProSeries going to release it?
07/28/11 10:40am PDT
Apology accepted. So, as long as we are on the subject, when is ProSeries going to release it?
essjay
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07/28/11 11:50am PDT
Who's on first?
"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that rnethod which best pays the treasury..." Judge Learned Hand - U S Court of Appeals
07/28/11 1:00pm PDT
Does Intuit (Proseries) monitor these questions? I would like to see their reply. Their current 2010 version Form 706 does not allow a date of death in 2011. There should be at least a draft form so we can enter data.
07/28/11 1:24pm PDT
I understand your frustation. However, IRS only released the 2010 706 about 2 weeks ago. I have not even heard a whisper about the 2011 one. I think its asking a little much of software to include forms that haven't been released yet. BTW, there is no 2011 1040 yet. Do you think the software should have one now, too?
And if you are doing a 706 you should be charging a large enough fee where you can absorb a REP charge for 2010 and 2011.
07/29/11 7:19am PDT
I know that other software providers have a transition or draft form available to enter data which is what I am looking for until the form is finalized. I may have to look elsewhere if ProSeries cannot anticipate the needs of its customers.
07/29/11 7:36am PDT
Best Answer - Chosen by the Community
What good does it do to load information on a form that technically doesn't exist? What if the final form is completely revamped and you have to re-enter the data - how happy will you be in that case? For the record, this forum is made up of other users, so threatening to go elsewhere really isn't going to have much of an impact here.
07/29/11 9:12am PDT
Bogdans, did you do an update today? There was something on there about the 706 but since we don't really do them, I don't know exactly what it said.
10/24/11 9:19am PDT
This is a good question. Even if form 706 hasn't been released for 2011, the return is due for 9 months after the date of death, which has passed for deaths through March.
Obviously an extension gets around time to file but not time to pay.
You appearently can get started entering transactionation information for a 2011 death in the 2010 proseries form 706. That is not obvious given the error message you get trying to enter a 2011 date of death. See
https://my.proseries.intuit.com/support/document.aspxproduct=PROSERIES_TAX&id=GEN5032...
which says"
To complete Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, for a decedent who died after the current tax year:
- Open the Form 706 Information Worksheet.
- Click in the field for Date of Death and press F1 on the keyboard to open the Tax Help. Tax Help lists the items that need to be reviewed in the return.
NOTE: The current year proforma will transfer the transaction information into the upcoming year's program.
10/24/11 9:25am PDT
Furthermore, the help screen there describes that the 2010 760 will make a best effort to calculate the 2011 estate tax with certain caveats. After all even if the forms haven't been released the law is known.
10/24/11 10:28am PDT
Latest post
Update-the 2011 Form 706 is now available at www.irs.gov
