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CCH Axcess Tax

706/709 General Information

The following federal forms are prepared in the Estate and Gift Tax system:

• 706 United States Estate (and Generation-Skipping Transfer) Tax Return (Supporting Schedules A through U are prepared)
• 706-NA United States Estate (and Generation-Skipping Transfer) Tax Return for estate of nonresident not a citizen of the United States
• 4768 Application for Extension of Time to File a Return and/or Pay U.S. Estate (and Generation-Skipping Transfer) Taxes
• 709 United States Gift (and Generation-Skipping Transfer) Tax Return
• 8892 Application for Automatic Extension of Time to File Form 709 and/or Payment of Gift/GST Tax
• 2848 Power of Attorney and Declaration of Representative

Data Entry

The Estate and Gift Tax system utilizes worksheets for entering information for return preparation. Use the Estate Tax worksheets to enter information for the estate tax return. Use the Gift Tax worksheets to enter information for the gift tax return. Use the Basic Data, Return Options, Notes, and Letters and Filing Instructions worksheets to enter information that is common to both the estate tax return and gift tax return.

On the government forms, there are three types of fields: overrideable, expand and direct entry. The overrideable fields allow the cursor to stop on them, but do not allow information to be entered without using the Override function. These are fields that contain information transferred from another form, or fields that contain calculated amounts. Expand fields allow the cursor to stop on them, but to enter information the Expand function must be used. Direct entry fields allow the user to enter information without any additional steps.

Worksheets. All fields on the worksheets are direct entry. Help screens are available for each field on the worksheets.

Government View. Government forms and schedules are selected from the menu and may be entered in any order. Data entry is allowed in some of the fields on these forms.

Expand Forms. Expand forms can be accessed from many of the government forms and schedules to view detail information. Data can be entered on some of the expand forms, but many options are not available on expand forms so it is best to use the worksheets for data entry.

The Expand function is available when the cursor is resting on a field that has an Expand form. The Expand function may also access forms from which information is carried.

Required Entries. The type of return to be prepared and the taxpayer's social security number must be entered on the Basic Data worksheet for proper preparation of the estate tax return or gift tax return. In addition, if an estate tax return is being prepared, the decedent's date of death must be entered.

Functions. There are many functions available for use.

Expand. See the explanation under Expand Forms, above.

Return or Go Back. Use the Return or Go Back function to return to the government view screen.

Add. The Add function gives access to additional data fields and items identical to those being entered.

Help. Use the Help function to access relevant information.

Print Order. Items on the estate tax return print in item number order. To override the print order, use sort numbers. If an item on the estate tax return has no item number and no sort number, it prints after the items that have sort numbers or item numbers.

Gifts on the gift tax return print in order of the date of gift. Item numbers are assigned to the gifts in the order in which they print. To override the assigned item numbers, use the item number override fields. To override the print order, use the item number or sort number override fields. If a gift has no date of gift, no item number and no sort number, it prints after the gifts that have dates, item numbers or sort numbers.

Dollar Rounding. Amounts may be entered as a whole dollars or in dollars and cents. The return prints in whole dollars or in dollars and cents depending on the dollar rounding election in the Return Configuration Set or on the Return Options worksheet, Processing Options section.

Continuation Schedules

Continuation schedules are produced for Schedules A through L of the estate tax return when there are more lines to be printed than are available on the schedules. View the continuation schedules by selecting Forms/Next Form or clicking the Next Form icon.

State Returns

CCH Axcess prepares state estate tax returns for Connecticut, Illinois, Massachusetts, New Jersey and New York.

A home state return is prepared if one of the above states is entered on the Basic Data worksheet, Tax Return Preparation section, Home state field. To prevent the calculation of the home state return, use the Return Options worksheet, Processing Options section, Suppress automatic state return field. For multi-state preparation, there must be at least one entry on the worksheets for each nonresident state.