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Row (k). Figure the applicable credit on the amount in Row (j) using Table A—Unified Rate Schedule, and enter here. Note. The entries in each column of Row (k) must be reduced by 20% of the amount allowed as a specific exemption for gifts made after September 8, 1976, and before January 1, 1977 (but no more than $6,000). Row (l). Add the amounts in Row (l) and Row (n) from the previous column. Row (m). Subtract the amount in Row (l) from the amount in Row (k) to determine the amount of any available credit. Enter the result in Row (m). Row (n). Enter the lesser of the amounts in Row (g) or Row (m). Row (o). Subtract the amount in Row (n) from the amount in Row (g) for the current column. Row (p). Subtract the amount in Row (o) from the amount in Row (f) for the current column. Row (q). Enter the Cumulative Taxable Gift amount based on the amount in Row (p) using the Taxable Gift Amount Table. Row (r). If Row (o) is greater than zero in the applicable period, subtract Row (q) from Row (d). If Row (o) is not greater than zero, enter -0-. Repeat for each year in which taxable gifts were made. Line 7 Worksheet—Submit a copy with Form 706 Line 7 Worksheet, Part A—Used to determine Applicable Credit Allowable for Prior Periods after 1976 (a) Tax Period1 Pre-1977 (b) Taxable Gifts for Applicable Period (c) Taxable Gifts for Prior Periods2 (d) Cumulative Taxable Gifts Including Applicable Period (add Row (b) and Row (c)) (e) Tax at Date of Death Rates for Prior Gifts (from Row (c))3 (f) Tax at Date of Death Rates for Cumulative Taxable Gifts Including Applicable Period (from Row (d)) (g) Tax at Date of Death Rates for Gifts in Applicable Period (subtract Row (e) from Row (f)) (h) Total DSUE applied and Restorable Exclusion Amount from Prior Periods and Applicable Period (see instructions later) (i) Basic Exclusion for Applicable Period (Enter the amount from the Table of Basic Exclusion Amounts) (j) Applicable Exclusion Amount (add Row (h) and Row (i)) (k) Maximum Applicable Credit amount based on Row (j) (Using Table A—Unified Rate Schedule)4 (l) Applicable Credit amount used in Prior Periods (add Row (l) and Row (n) from prior period) (m) Available Credit in Applicable Period (subtract Row (l) from Row (k)) (n) Credit Allowable (lesser of Row (g) or Row (m)) (o) Tax paid or payable at Date of Death rates for Applicable Period (subtract Row (n) from Row (g)) (p) Tax on Cumulative Gifts less tax paid or payable for Applicable Period (subtract Row (o) from Row (f)) (q) Cumulative Taxable Gifts less Gifts in the Applicable Period on which tax was paid or payable based on Row (p) (Using the Taxable Gift Amount Table) (r) Gifts in the Applicable Period on which tax was payable (subtract Row (q) from Row (d)) Line 7 Worksheet, Part B 1 Total gift taxes payable on gifts after 1976 (sum of amounts in Row (o)). 2 Gift taxes paid by the decedent on gifts that qualify for “special treatment.” Enter the amount from Worksheet TG, line 2, col. e. 3 Subtract line 2 from line 1. 4 Gift tax paid by decedent's spouse on split gifts included on Schedule G. Enter amount from Worksheet TG, line 2, col. f. 5 Add lines 3 and 4. Enter here and on Part 2—Tax Computation, line 7. 6 Cumulative lifetime gifts on which tax was paid or payable. Enter this amount on line 3, Section C, Part 6 of Form 706 (sum of amounts in Row (r)). 1 Row (a): For annual returns, enter the tax period as (YYYY). For quarterly returns, enter tax period as (YYYY-Q). 2 Row (c): Enter amount from Row (d) of the previous column. 3 Row (e): Enter amount from Row (f) of the previous column. 4 Row (k): Figure the applicable credit on the amount in Row (j), using Table A—Unified Rate Schedule, and enter here. (For each column in Row (k), subtract 20% of any amount allowed as a specific exemption for gifts made after September 8, 1976, and before January 1, 1977.) -8- Instructions for Form 706 (Rev. 09-2021)