706 Sch. C

Mortgages, Notes, and Cash

Agency
IRS
Revision
August 2025
Fillable fields
233
Pages
2
Official source
IRS form page
Checked
October 21, 2026
Fill 706 Sch. C online
Page 1 of form 706 Sch. C

Schedule C (Form 706): Mortgages, Notes, and Cash

Schedule C (Form 706), Mortgages, Notes, and Cash, is a two-page schedule attached to Form 706, the United States Estate (and Generation-Skipping Transfer) Tax Return. The IRS About page says that if the total gross estate contains any mortgages, notes, or cash, this schedule is used to report those assets.

The executor of a decedent's estate files Form 706. The Form 706 instructions say Schedule C lists mortgages and notes payable to the decedent at the time of death and cash the decedent had at the date of death. Mortgages and notes payable by the decedent are not listed here; if they are deductible, the instructions point to Schedule K (Form 706).

The line 4 total is entered on Form 706, Part V, item 3. You can fill out Schedule C free in your browser on this page and download it without an account.

What's on Schedule C (Form 706)

Decedent's name and SSN

The decedent's name as it appears on Form 706 and the decedent's Social Security number.

Notes at the top

Pointers for jointly owned property disclosed on Schedule E (Form 706), for using Schedule W (Form 706) when more space is needed, and for estates filing only to elect portability of the DSUE amount.

Line 1: the asset table

Five columns: (i) item number, (ii) description, (iii) alternate valuation date, (iv) alternate value and (v) value at date of death. The table continues on page 2.

Line 2: column total

The sum of all amounts in column (iv) or column (v), as applicable.

Lines 3 and 4: totals

Line 3 is the total from Schedule(s) W (Form 706) or additional statements. Line 4 adds lines 2 and 3 and goes to Form 706, Part V, item 3.

How to fill out Schedule C (Form 706)

  1. 1

    Header

    Enter the decedent's name as it appears on Form 706 and the decedent's Social Security number.

  2. 2

    List items in order

    The instructions give the order: mortgages, promissory notes, contracts by the decedent to sell land, cash in possession, then cash in banks and other financial organizations. Number the items starting with 1.

  3. 3

    Mortgages and notes

    Describe each with the face value, unpaid balance, date of mortgage, name of maker, property mortgaged, date of maturity, interest rate and interest date. Promissory notes are listed the same way.

  4. 4

    Land contracts and cash

    For a land sale contract, list the purchaser, contract date, property, sale price, initial payment, installments, unpaid principal and interest rate. List cash on hand separately from bank deposits, and give each account's institution, amount, number, type and accrued interest.

  5. 5

    Value columns

    The instructions say not to complete the alternate valuation date or alternate value columns unless alternate valuation was elected on Form 706, Part III, line 1. Otherwise enter the value at date of death in column (v).

  6. 6

    Totals

    Add column (iv) or (v) on line 2, enter any Schedule W (Form 706) total on line 3, and carry the line 4 total to Form 706, Part V, item 3.

Why fill Form 706 Sch. C on indox

You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.

  • Fill the form right in your browser, no software to install
  • Free to fill and free to download, with no account
  • The official blank straight from the IRS, not a copy someone retyped
  • Works on a phone, tablet or computer

Where it goes, timing and records

Attach to Form 706

Schedule C is not filed alone. The instructions say to complete it and file it with the return if the total gross estate contains any mortgages, notes or cash.

Where Form 706 goes

The Form 706 instructions give the address Department of the Treasury, Internal Revenue Service, Kansas City, MO 64999. The About page also points to the IRS page on filing estate and gift tax returns for the latest address.

When Form 706 is due

The instructions say Form 706 is filed within 9 months after the date of the decedent's death, and Form 4768 applies for an automatic 6-month extension of time to file.

Zero on item 3

The instructions say entering zero for an item on Part V is a statement by the executor, under penalties of perjury, that the gross estate has no includible assets of that type.

Portability filings

The schedule says that if an asset's value is not required to be reported under the portability rule, identify the property but make no entries in the last three columns.

Bank statements

The instructions say that if statements are obtained from the financial organizations, they are kept for IRS inspection.

Related forms

Who fills out Schedule C (Form 706)?

  • Executors filing Form 706

    The schedule says "Attach to Form 706." The executor of the estate files Form 706 and its schedules with the IRS.

  • Estates holding mortgages or notes

    The instructions name mortgages and promissory notes payable to the decedent, and contracts by the decedent to sell land.

  • Estates with cash

    The instructions name cash in possession and cash in banks, savings and loan associations and other types of financial organizations.

  • No executor appointed

    The instructions say that if no executor is appointed, qualified and acting in the United States, every person in actual or constructive possession of the decedent's property is considered an executor.

  • Not for debts the decedent owed

    Mortgages and notes payable by the decedent are not listed on Schedule C. The instructions say deductible ones go on Schedule K (Form 706).

The executor completes Schedule C as part of the estate's Form 706. The Form 706 instructions say the term executor includes the executor, personal representative or administrator of the decedent's estate.

Official sources and the blank

Do it all with indox

View all 123 tools

Questions about Form 706 Sch. C

What goes on Schedule C (Form 706)?

The instructions say it lists mortgages and notes payable to the decedent at the time of death and cash the decedent had at the date of death, including contracts by the decedent to sell land.

Where do debts the decedent owed go?

Not on Schedule C. The instructions say mortgages and notes payable by the decedent, if deductible, are listed on Schedule K (Form 706).

Is cash on hand listed with bank accounts?

No. The instructions say cash on hand is listed separately from bank deposits.

What if there is not enough room?

The schedule says to attach Schedule(s) W (Form 706) or additional statements. Their total goes on line 3.

When are the alternate value columns used?

The instructions say only when alternate valuation was elected on Form 706, Part III, line 1.

Is Schedule C needed if the estate has none of these assets?

The instructions say that when zero is entered on an item of the Recapitulation, the schedule for that item need not be filed, except Schedule F (Form 706).