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Yes, you are required to file an estate tax return (Form 706) if the gross estate of the decedent, who is a U.S. citizen or resident, plus any adjusted taxable gifts and specific gift tax exemption, exceeds the filing threshold for the year of the decedent’s death. The filing thresholds for recent years are as follows:
Additionally, an estate tax return must be filed if the estate elects to transfer any deceased spousal unused exclusion (DSUE) amount to a surviving spouse, regardless of the size of the gross estate or the amount of adjusted taxable gifts. This election is known as the portability election.
For nonresidents who are not U.S. citizens, an estate tax return (Form 706-NA) must be filed if the value of the decedent’s U.S.-situated assets exceeds $60,000.
The return must be filed within 9 months after the date of the decedent’s death, although an extension of time to file can be requested using Form 4768.
Sources:
Publication 559 (2023)
§ 6018. Estate tax returns
Instructions for Form 706 (09/2023)
Publication 950
§ 20.6018-1. Returns.