Question

form 706 Schedule C is used to list all of the following except mortgages payable to The Descendants at the time of the death notes payable to buy The Descendant at the time of the death cash and possession or contracts by The Descendant to sell land

Answer 1

Answer is (Notes payable by the decedent at the time of death.)

Explanation;

As we know that followings are disclosed on schedule C of form C;

·        Cash the decedent had at the date of death.

·        Mortgages payable to the decedent at the time of death.

·        Notes payable to the decedent at the time of death.

·        Contracts by decedent to sell land etc.

Hence, it is clear that Notes payable by the decedent at the time of death is not listed on form 706 schedule C.