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Screen MATAsset - Massachusetts Qualified Family-Owned Business Asset (706)

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Qualified Business Interest A

Schedule letter
Select the schedule of the property being transferred. Only businesses listed on certain schedules of Form 706 can be used.
Item number
Select the item number of the property. Only the item numbers associated with the selection you made in the
Schedule letter
field are available. If no item numbers are available, then there are no items listed for the schedule selected on the federal Asset screen.
Description
What you enter in this field is the default unless you enter a description in the
Description of business interest and principal place of business
 field.
Description of business interest and principal place of business
Describe the business interest using as many lines as necessary. Enter blank lines or delete lines as desired in the statement. The description displays on Schedule T, Part 3, line 5 and on Schedule T, Part 4, line 15 of the Continuation Schedule.
Value at date of death
Once you select the schedule and item number of the property, the amount associated with the selections made in the
Schedule letter
 and
Item number
 fields update automatically with information you enter on the federal Asset screen.

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