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Form 706 Texas: What You Should Know
You may use Form 706-1, Statement of Qualified Decease in an Estate to determine whether the person who signed Form 706 (in the person's name) died with a qualified heir. The deceased had a qualifying right to ownership over the property and, if the person signing the form died with the heir, the qualified heir has the right to ownership. If the heir of the person who signed Form 706 is ineligible to receive a tax deduction: You should not sign Form 706 on behalf of a dependent. An executor must file Form 706 on behalf of the estate of a deceased person. The executor of an estate may use the following form: Form 706—General Information This form must be filed by the executor of the estate of every person who owns qualifying real property (defined below) and gross income, adjusted taxable gifts, or specific exemptions in the value of 2 million or less. This person must file the form with the executor of the estate, on the first day after the executor signs the form on behalf of the deceased person. The executor of an estate may use this form to determine whether the person who signed the form died with a qualified heir. The executor must have the executor sign Form 706 on behalf of a dependent. An executor must file this form on behalf of the estate of all U.S. living descendants, regardless of what part of the estate qualifies as qualifying real property, gross income, or specific exemptions. You may use Form 706-1, Statement of Qualified Decease in an Estate to determine if the person who signed the form died with a qualified heir. The executor must have the executor sign this form on behalf of the dependent of someone who died with a qualified heir. If you wish to submit this form electronically, you must upload the form to the website of your county clerk. An executor may claim an exemption for death income. An executor must submit Form 706 on behalf of every deceased person in Texas who is qualified to receive the exemption. The executor must have the executor sign this form on behalf of each qualifying beneficiary.
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