Instructions for Form 706›(Rev. July 2026)›Specific Instructions
Schedule T—Section 2032A Property Valuation
Instruction 706 — Instructions for Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return · 2026-10-03 edition · updated 2026-10-04 · United States
Tip: Schedule T (Form 706) was previously named Schedule A-1 (Form 706) in year 2024 and earlier.
The election to value certain farm and closely held business property at its special-use value is made by checking “Yes” on Form 706, Part III, line 2. Schedule T (Form 706) is used to report the additional information that must be submitted to support this election. In order to make a valid election, you must complete Schedule T (Form 706) and attach all of the required statements and appraisals.
For definitions and additional information concerning special-use valuation, see section 2032A and the related regulations.
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