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| Where would monies that have been advanced to children with no " official" drafting of a promissory note be listed on the estate tax return?
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Member
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Last Login: 6/26/2007 10:52:48 AM
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| Assuming that such cash advances are collectible and not gifts or bad debts, I would report them as "Advances Receivable" on Schedule F (Miscellaneous Assets) of Form 706. However, if such advances were made from the 'living trust' of the decedent, than I would think it to be more appropriate to report such advances on Schedule G (Transfers During Decedent's Life) of Form 706.
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