Question

Which of the following is reported on form 706 schedule F:

An interest in a llimited company

Life insurance that the decedent owned on the life of his or her parent

Household goods

All of the above

Answer 1

Answer is option (All of the above).

Explanation;

Following items are reported on form 706 schedule F;

·        Personal and household articles

·        Automobiles and other motor vehicles

·        Debts, judgments, claims, and refunds due the decedent

·        Checks payable to the decedent, whether received before or after death

·        Rights, royalties, and leaseholds

·        Farm products, crops, livestock, and farm machinery

·        Insurance on another person’s life

·        Interests in partnerships, sole proprietorships, joint ventures, and other unincorporated businesses

·        Reversionary and remainder interests

·        Qualified terminable interest property

·        Safe-deposit box

So on the basis of above given list of items to be reported on form 706 schedule F, it is clear that all options given in the question are correct.