Illinois Administrative Code
Title 86 - REVENUE
Part 2000 - ILLINOIS ESTATE AND GENERATION-SKIPPING TRANSFER TAX RETURN
Section 2000.110 - Schedule of Assets
Universal Citation: 86 IL Admin Code ยง 2000.110
Current through Register Vol. 48, No. 12, March 22, 2024
a) Any itemized schedule of all assets must contain:
1) A
schedule showing real estate owned individually by the decedent, with
identification of any real estate valued under Section 2032A of the Internal
Revenue Code (
26 USC 2032 A
);
2) A schedule showing stocks and
bonds owned individually by the decedent with description, face amount of
bonds, or number of shares;
3) A
schedule showing mortgages, notes and cash owned individually;
4) A schedule showing insurance on the
decedent's life;
5) A schedule
showing all jointly owned property of the decedent separated by interests held
with a spouse as the only joint tenant and all other joint interests;
6) A schedule showing all other miscellaneous
property not reportable under any other schedule of the decedent;
7) A schedule showing all transfers within
three years before the decedent's death;
8) A schedule showing powers of appointment
held by the decedent;
9) A schedule
showing all annuities owned by the decedent;
10) A schedule showing funeral expenses and
expenses incurred in administering property subject to claims of the decedent's
estate;
11) A schedule showing
debts of the decedent, and mortgages and liens;
12) A schedule showing net losses during
administration and expenses incurred in administering property not subject to
claims;
13) A schedule showing
bequests and transfers to a surviving spouse;
14) A schedule showing charitable, public,
and similar gifts and bequests;
15)
A recapitulation of all schedules;
16) A schedule of all adjusted taxable gifts
as determined under the Gift and Estate Taxes provisions of the Internal
Revenue Code;
17) A schedule
showing the calculation of the tentative taxable estate by subtracting
allowable deductions from the gross estate total of all schedules without
adjusted taxable gifts;
18) An
explanation and documentation of the distribution of the estate, including, but
not limited to, wills, trusts, and beneficiary designations, including the
social security numbers of such transferees.
b) All schedules provided as part of the itemized schedule of assets shall include documentation of values and amounts.
c) The requirements of this Section may be satisfied by the filing of the most recent United States Estate (and Generation-Skipping Transfer) Tax Return published by the Internal Revenue Service or by the filing of any other form that contains the same information.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.