Ohio Ohio Estate Tax Return and Instructions for Dates of Death on or After July 1, 1993

Ohio Estate Tax Return and Instructions for Dates of Death on or After July 1, 1993
ET_Return_500_022707.pmd
OHIO ESTATE TAX RETURN
AND

INSTRUCTIONS

Revised 3/00

For completing the Ohio Estate Tax Return for estates with dates of
death July 1, 1993, please review the following:
First:

Read the General Information Section located on pages 19 and 20 for
instructions.

Then:

Complete only the applicable schedules of the return, which are on
pages 4 through 17. A blank continuation schedule is located on page
18.

When you are finished:

First:

Check your computation.

Then:

Follow the instructions in the General Information Section, page 19, for
where to file and pay.

Note: Estates with dates of death PRIOR to July 1, 1993 must file an Ohio
Estate Tax Form 2, Revised 7/90.

For further information, please contact the Estate Tax Unit’s
toll-free information and assistance line
at
1 (800) 977-7711

(

Ohio Relay Service
1 (800) 750-0750

)

Reset Form
Estate Tax Form 2 (Rev. 3-00)

Ohio Estate Tax Return for all Resident Filings
for Dates of Death on or After July 1, 1993
File in Duplicate with the Probate Court
Check one:  Taxable
 Nontaxable

Estate of: Decedent’s last name

Decedent’s first name and initial

Date of death

Date of birth

Cause of death

Occupation
Decedent retired Yes  No 

Address of decedent at time of death (number and street, city, state and ZIP code)

Decedent’s social security number

County in Ohio in which probate court located, where will probated or estate administered

Case number

Tax Computation
1. Total gross estate (from page 2)

$

2. Total deductions (from page 2)

$ (

)

3. Net taxable estate (line 1 minus line 2)

$

4. Tentative tax based on line 3 (use table on page 2)

$

5. Less: Estate tax credit

$ (

500.00

)

6. Tax (line 4 minus line 5)

$

7. Less: Previous payments

$ (

)

8. Balance due (if amount on line 7 is less than tax amount on line 6, enter difference as balance due)

$

9. Overpayment (if amount on line 7 is greater than tax amount on line 6, enter difference as a refund)

$ (

)

Executor/Administrator Waiver to Receive Correspondence
I/we do not wish to receive further correspondence from the Ohio Department of Taxation regarding this estate, and hereby authorize all
such communication to be directed only to the estate’s legal representative named below.

Signature of executor/administrator

Declaration
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to
the best of my knowledge and belief, it is true, correct and complete. Declaration of preparer other than the deceased’s personal
representative or person in possession of property is based on all information of which preparer has any knowledge.
Name of attorney representing the estate

Address (number and street, city, state and ZIP code)

Telephone number

Name of executor/administrator(s)

Address (number and street, city, state and zip code)

Telephone number

Signature of executor/administrator(s)

Date

Date

Date Filed with Probate Court

Signature of preparer

Distribution of Subdivision’s Share of Tax
(O.R.C. Section 5731.48 and 5731.50)
Percentage

City, Village or Township

-1-

Date Received by Ohio
Department of Taxation

Recapitulation of Assets
Alternate Value

Schedule

A. Real property ............................................................

Value at Date of Death

$

$

$

$

B. Stocks and bonds .....................................................
C. Mortgages, notes and cash ......................................
D. Insurance ..................................................................
E. See Schedule E, Part I .............................................
Joint and Survivorship Property, Part II ......................
F. Other miscellaneous property ...................................
G. Transfers during lifetime ............................................
H. Powers of appointment .............................................
I. Annuities, pensions, retirement plans .......................
Total gross estate (enter on line 1, page 1) ...............

Recapitulation of Deductions
Amount

Schedule

J. Debts and administration expenses ................................................................................

$

K. Charitable bequests ........................................................................................................
L. Marital deduction ............................................................................................................
Total deductions (enter on line 2, page 1) .......................................................................

$

Elections by the Executor
Please check the “yes” or “no” box for each question. (See explanation of elections on pages 20 and 21.)

Yes

1. Do you elect alternate valuation? O.R.C. Section 5731.01(A) and (D)
2. Do you elect qualified farm property valuation? O.R.C. Section 5731.011
3. Do you elect to claim a marital deduction for qualified terminable interest property (QTIP)?
O.R.C. Section 5731.15(B)(2)

Tax Table
Tax Rate

Net Taxable Estate (from line 3, page 1)
Not more than $40,000

2% of taxable estate

More than $40,000 but not more than $100,000

$800 + 3% of excess more than $40,000

More than $100,000 but not more than $200,000

$2,600 + 4% of excess more than $100,000

More than $200,000 but not more than $300,000

$6,600 + 5% of excess more than $200,000

More than $300,000 but not more than $500,000

$11,600 + 6% of excess more than $300,000

More than $500,000

$23,600 + 7% of excess more than $500,000

-2-

No

Information
Yes

No

Yes

No

1. Did the decedent die testate? ................................................................................................................
If “yes,” please attach a copy of the will.
2. During the decedent’s lifetime, were there any trusts created (by the decedent or others for the decedent)? .......
If “yes,” please attach a copy of the trust.
3. Were any disclaimers filed or elections to take against the will made? ..................................................
If “yes,” please attach copies of the disclaimer or election.
4. Have federal gift tax returns ever been filed? ...........................................................................................
If “yes,” please attach copies of the returns.
5. Was a federal estate tax return required? ...............................................................................................
If “yes,” please attach pages 1, 2 and 3 of Federal Form 706.
6. Marital status of the decedent at time of death:









Married
Name of surviving spouse (if applicable)
Social security number of surviving spouse
Single
Legally separated
Divorced
Widowed
Name of deceased spouse
Social security number of deceased spouse
Date of death of deceased spouse
Case number of deceased spouse’s estate
County of deceased spouse’s estate

7. If widow or widower, was a qualified terminable interest property (QTIP) deduction
elected in the predeceased spouse’s estate? ......................................................................................
If “yes,” please read information below and complete Schedule F, page 10.

Section 5731.131 O.R.C. requires the estate to include property in which the decedent had an income interest for life
for which a marital deduction was allowed with respect to the transfer of that property under any of the following:
a. O.R.C. Section 5731.15(A)(1) (for dates of death on or before June 30, 1993)
b. O.R.C. Section 5731.15(B) (for dates of death on or after July 1, 1993)
c. I.R.C. Section 2523(f) (lifetime QTIP gift tax election)
d. Where the decedent’s predeceased spouse was not a resident of the state of Ohio but was permitted a marital
deduction under I.R.C. Section 2056(b)(7).

-3-

Estate of:

Schedule A – Real Estate
(Jointly owned property must be listed on Schedule E)
List any interest in real estate that the decedent owned or had
contracted to purchase. Only probate real estate held in the
decedent’s name alone or held by the decedent as a tenant in
common is reported on Schedule A (report jointly owned
property on Schedule E).
Item
Number

For real estate held by decedent as a tenant in common,
submit the deed or other appropriate documentation indicating proof of decedent’s fractional interest. If a qualified farm
property valuation election is made, please submit documentation as noted on page 21.
Qualified Farm
Value

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule A
-4-

Value at Date
of Death

Estate of:

Schedule B – Stocks and Bonds
(Jointly owned property must be listed on Schedule E)
Furnish number of shares, whether common or preferred at
par value. List the exchange, such as New York Stock Exchange (N.Y.S.E.), American Stock Exchange (A.S.E.), and
NASDAQ National Market (O.T.C.). Include any accrued divi-

dends due as separate items. List all bonds including local,
state and U.S. government. Include total face amount, obligor,
kind and rate of interest, date of maturity, interest due dates
plus accrued interest to date of death.

Did the decedent, at the time of death, own any interest in an unincorporated business or any
stock in an inactive or closely held corporation? If yes, please provide the valuation method on
an attached sheet. All partnership and sole proprietorship interests should be listed under
Schedule F.
Item
Number

Alternate
Valuation Date

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule B
-5-

Alternate
Value

EE]
Yes

No

Value at Date
of Death

Estate of:

Schedule C – Mortgages, Notes and Cash
(Jointly owned property must be listed on Schedule E)
List the date of death value for all types of deposits in which
the decedent had an interest including all accrued interest,
P.O.D.’s, trustee deposits, cash and Certificates of Deposit.

Mortgages and Promissory Notes: List face value and unpaid balance, execution and maturity dates, name of maker,
description of property mortgaged and interest dates and rates.

Bank Accounts: List name of banking institution, account
number and balance at date of death (including accrued interest).

Land Contracts: List name of vendee, execution date, sale
price and unpaid balance, interest rate and description of property.

Item
Number

Alternate
Valuation Date

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule C
-6-

Alternate
Value

Value at Date
of Death

Estate of:

Schedule D – Insurance
(Jointly owned property must be listed on Schedule E)
tracts, such as a matured endowment or supplemental contract wherein the insurance or risk feature ceased prior to death,
are includible for Ohio estate tax purposes.

Insurance on the life of the decedent payable to a beneficiary
other than the estate, is not includible for Ohio estate tax
purposes. Insurance payable to the estate and insurance conItem
Number

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule D
-7-

Value at Date
of Death

Estate of:

Schedule E – Joint and Survivorship Assets
(O.R.C. Section 5731.10)
Part I – Interests held by the decedent and spouse as the only joint tenants
Include only one-half (1/2) of the total value without regard to actual contribution by each spouse (for other joint interests,
please complete Part II on the following page).
Item
Number

Alternate
Valuation Date

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule E, Part I
-8-

Alternate
Value

Value at Date
of Death

Estate of:

Schedule E – Joint and Survivorship Assets
(O.R.C. Section 5731.10)
Part II – All Other Joint Interests

mentation should be attached if the estate claims the decedent held only a partial interest.

The full value of the joint property is presumed to be part of the
gross estate, but the presumption may be overcome if it is
established that a part of the property originally belonged to or
was contributed by the other co-tenant(s). Supporting docuName

For joint accounts held between spouses and any additional
parties, subtract any contribution by those parties and report
the balance at one-half (1/2) value. State the name, relationship and address of each surviving co-tenant.

Relationship

City and State

A.
B.
C.
D.
Enter
Item
Letter for
Number Co-tenant

1.

Percentage
Includible

Description

A.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule E, Part II
-9-

Alternate
Value

Value at Date
of Death

Estate of:

Schedule F – Miscellaneous Property
(Jointly owned property must be listed on Schedule E)
All property not reported on any other schedule is reported on
this schedule. Include partnership interests, sole proprietorship or other business interests with supporting information
for valuation including goodwill. Also include claims of decedent, rights, royalties, reversionary or remainder interests, tax
refunds, judgments, unpaid wages, household goods, personal
effects, automobiles, trailers, farm products, machinery, stored
Item
Number

and/or growing crops and collections (such as coins and
stamps).
Qualified terminable interest property (QTIP) is included in
the estate of a surviving spouse when either a full or partial
QTIP deduction was previously allowed on the estate or gift
tax return of the first spouse to die.
Alternate
Valuation Date

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule F
- 10 -

Alternate
Value

Value at Date
of Death

Estate of:

Schedule G – Transfers During Decedent’s Life
1. Transfers in Contemplation of Death (O.R.C. Section
5731.05). Any transfer in excess of $10,000 per year per
donee made by the decedent within three years of death for
less than adequate consideration is presumed to be in contemplation of death and is includible in the Ohio gross estate, unless proof to the contrary can be provided. Interests
that do not qualify as present interests for the federal gift
tax $10,000 exclusion will not qualify for the Ohio $10,000
exclusion. Transfers made between spouses should not be
included in the gross estate, but should be listed for informational purposes only.
2. Transfers with Retained Enjoyment (O.R.C. Section
5731.06). The value of the gross estate shall include the
value of any property or interest herein that the decedent
transferred for less than adequate consideration and in which
the decedent retained (a) the income or right to possession
and enjoyment until the decedent’s death or (b) the right,
either alone or in conjunction with any person, to designate
the person(s) who shall enjoy the property or income therefrom.
Item
Number

3. Transfers with Reversionary Interest Retained (O.R.C.
Section 5731.07). The value of the gross estate shall include the value of any transfer of property or interest therein
made by the decedent for less than adequate consideration where (a) the possession or enjoyment can be obtained by the other person only by surviving the decedent
and (b) the decedent retained a reversionary interest by
express terms of the instrument which had a value as of
the date of death in excess of 5% of the value of property
transferred.
4. Transfers Subject to Change (O.R.C. Section 5731.08).
Any property or interest therein transferred by the decedent without adequate consideration where the enjoyment
on the date of death was subject to any change through the
exercise of a power by the decedent alone or in conjunction with any person to alter, amend, revoke or terminate is
includible in the value of the gross estate.

Alternate
Valuation Date

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule G
- 11 -

Alternate
Value

Value at Date
of Death

Estate of:

Schedule H – Powers of Appointment
(Jointly owned property must be listed on Schedule E.)
The value of the gross estate shall include any property over
which the decedent had at any time exercised or released a
general power by a disposition (or a general power not exerItem
Number

cised at death) that, if it were a transfer by the decedent,
would have been includible in the estate.
Alternate
Valuation Date

Description

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule H
- 12 -

Alternate
Value

Value at Date
of Death

Estate of:

Schedule I – Annuities, Pensions, Retirement and
Other Employer Death Benefit Plans
(Jointly owned property must be listed on Schedule E.)
All annuity interests held by the decedent must be shown.
List payments under commercial annuity contracts, IRAs or
similar contracts, all employer bonus plans, deferred compensation contracts and employer death benefit plans, unless
specifically excluded under O.R.C. Section 5731.09(A) or (C),
effective for dates of death on or after March 7, 1997, and to
the extent documentation is provided, the value of the gross
estate shall not include that portion of an annuity or other
death benefit plan contributed by decedent’s employer.

Teachers Insurance and Annuity Association (TIAA) and College Retirement Equity Fund (CREF) benefits are not exempt
from taxation. These funds do not fall into the same category
as the State Teachers Retirement System, therefore must be
included under this schedule. For further information, please
refer to E.T. Bulletin 1, revised 3/97.

Item
Number

Description

1.

Calculation of Annuity(s)

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule I
- 13 -

Value at Date
of Death

Estate of:

Schedule J – Debts and Administration Expenses
(The deductions must reflect the interest held by decedent.)
Include only those debts that are outstanding as of the date of
death, but only to the percentage attributable to the decedent.
If the decedent owned credit life insurance on an asset listed
in the gross estate, claims equaling the insurance proceeds
are not an allowable deduction. Name all creditors and describe nature of the claim. List only attorney and fiduciary
fees that have been or actually will be paid. Income taxes on
Item
Number

income received after date of death and real and personal property taxes not accrued before date of death are not deductible. Only administration expenses and debts that may be
claimed on both the Federal Forms 706 and 1041 will be allowed to be claimed on both the Ohio Estate Tax Return and
the Ohio Estate Income Tax Return, pursuant to O.R.C. Section 5747.01(S)(8) and I.R.C. Reg. Section 1.642(g).
Amount

Item

1.

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule J
- 14 -

Estate of:

Schedule K – Charitable Deduction
If the charitable character of the organization is not obvious by
its name, attach a copy of the exemption letter received by
the organization from the I.R.S., stating that bequests to the
organization are exempt for federal estate tax purposes. Note
that Ohio law differs from federal law in two aspects: (1) there
are no unitrust requirements for an Ohio charitable deduction;
and (2) if federal and state death taxes are payable out of the

amount of property passing to the charity, the amount of the
deduction is not reduced by such taxes.
For charitable deductions other than specific bequests,
please attach a copy of the computation showing how
the value of the charitable deduction was determined.

Name and Address of Beneficiary

Character of Institution

Total from continuation schedule(s)
Total (also enter on Recapitulation of Assets, page 2)

Schedule K
- 15 -

Amount

Estate of:

Schedule L – Marital Deduction Reconciliation
1. Enter the total of Schedule M, Part I (property interests passing outright to the surviving
spouse that are NOT subject to a QTIP election) ............................................................... $
2. Enter the total of Schedule M, Part II (property interests passing to the surviving spouse
for which a QTIP election was made) ................................................................................. $
3. Add lines 1 and 2 and enter total here and on Recapitulation of Deductions, Schedule L,
page 2 ............................................................................................................................... $

Schedule M – Bequests to Surviving Spouse
Part I – Property Interests That Are Not Subject to a QTIP Election
Complete this schedule indicating the assets passing to the
surviving spouse. (Note: Itemization is not necessary where
spouse receives entire estate outright.)
If provision has not been made by the decedent’s will for the
debts and expenses of administration, the spouse’s interest
in the residue could be reduced for these expenses.
Item
Number

Qualified Terminable Interest Property (QTIP) Deduction
– If you elect a QTIP deduction under O.R.C. Section 5731.15,
you must list on Part II of Schedule M all of the property for
which you are making the election.

Description of Net Property Interests Passing to the Surviving spouse

1.

Total from continuation schedule(s)
Total value of Schedule M, Part I (also enter on Schedule L, line 1, page 16)

Schedule M, Part I
- 16 -

Value

Estate of:

Schedule M – Bequests to Surviving Spouse
Part II – Property Interests That Are Subject to a QTIP Election
Election to Deduct Qualified Terminable Interest Property Under O.R.C. Section 5731.15(B) – If a trust (or other
property) meets the requirements of qualified terminable interest property and
a. The trust or other property is listed on Schedule M, Part II,
in whole or in part, then unless the executor specifically
identifies the trust (all or a fractional portion or percentage)
or other property to be excluded from the election, the executor shall be deemed to have made an election to have
such trust (or other property) treated as qualified terminable
interest property.
Item
Number

b. If less than the entire value of the trust (or other property)
included in the gross estate is entered as a deduction under Schedule M, Part II, the estate shall be considered to
have made an election only as to a fraction of the trust (or
other property). The numerator of this fraction is equal to
the amount of the trust (or other property) deducted on
Schedule M, Part II. The denominator is equal to the total
value of the trust (or other property).

Description of Property Interests Passing to the Surviving Spouse
(describe portion of trust for which allocation is made)

1.

Note: If you use a continuation page for Part II, be sure that it is clearly labeled as
Schedule M, Part II.
Total from continuation schedule(s)
Total value of Schedule M, Part II (also enter on Schedule L, line 2, page 16)

Schedule M, Part II
- 17 -

Value

Estate of:

Continuation Schedule
Continuation of Schedule ___________
Item
Number

Alternate Valuation
Date

Description

1.

Total (enter total on appropriate schedule)

Schedule ________
- 18 -

Alternate
Value

Value at
Date of Death

General Information
When an estate tax
return is required
(Section 5731.21)

Estates with a gross value over $25,000 are required to file an ET Form 2. Executors and
administrators are responsible for filing the estate tax return.

What estate tax form
is required to be
completed
(Section 5731.21)

If the date of death was before July 1, 1993, Ohio Estate Tax Return, Revised 7/90, is
required to be filed.

When and where
to file (Section 5731.21)

Returns are required to be filed within nine months from decedent’s date of death. All filings
must be made in duplicate with the probate court where will is probated or estate is administered.

When and where to
pay (tax and interest)
(Section 5731.23)

Interest begins to accrue at variable rates nine months from decedent’s date of death. The
county auditor will calculate any interest owing. Tax and interest are paid at the county auditor’s
office, with the check drawn to the order of the county treasurer.

Extension of time
to file (Section 5731.21)

The estate representative may apply for an extension of time to file by submitting an ET form
24. This form should be completed and mailed directly to the Estate Tax Unit before the due
date of the return. An extension, if granted, is for a maximum of six months per request.

Returns are not required to be filed for gross estates with a value of $25,000 or less. However,
if the estate consists of real estate and has a value of $25,000 or less, an ET Form 22,
Part B should be filed with the probate court. This will expedite the release of the
real estate lien.

If the date of death was on or after July 1, 1993, Ohio Estate Tax Return, Revised 3/99, is
required to be filed.

If any further extensions are necessary, another ET form 24 should be submitted within the
extended period. Interest from the estate tax due is assessed and payable regardless of
whether an extension of time to file has been applied for and approved. To stop the accrual of
interest, an estimated payment of tax may be made. (See explanation of estimated payments
on page 20.)

Extension of time
to pay (Section 5731.25)

Estates of decedents with a date of death on or after July 24, 1986 may request to extend the
time for payment of tax for undue hardship. Specific examples of undue hardship are listed in
the Ohio Revised Code and include, but are not limited to, the following: (1) insufficient liquid
funds despite efforts to convert assets to cash; (2) a substantial portion of the assets of the
gross estate consisting of rights to receive payments in the future; and (3) the inability to
accurately determine the size of the gross estate because a substantial portion of the
decedent’s assets is subject to litigation.
The estate must request this extension on the ET Form 41, no later than 45 days before the
due date of the estate tax return. This form must be filed directly with the Estate Tax Unit.
Additional extensions must be filed not less than thirty (30) days before the expiration of the
previous extension. Each extension is granted for no more than one year per request. Additional extensions may be granted annually up to a maximum of 14 years. For further information, please refer to ET Bulletin 3A.

- 19 -

Estimated payments
(Section 5731.23)

An estimated payment can be made prior to the filing of the estate tax return, by using an ET
form 17. This payment will stop the accrual of interest on the amount of tax paid.
Estimated payments are collected in the same manner as stated on page 19 in When and
Where to Pay. If the tax ultimately assessed is more than the estimated payment, interest
on the excess will accrue nine months from decedent’s date of death. If the tax ultimately
assessed is less than the estimated payment, the estate may be eligible for a refund.
Failure to timely file the estate tax return (determined with regard to any extension approved)
results in a penalty assessment.

Penalties
(Section 5731.22)

The penalty is five (5) percent per month or any fraction of a month, not to exceed twenty-five
(25) percent of the tax as finally determined. Interest does not accrue on penalty assessments.

Nonresident estates
(Section 5731.19)

The estate of a nonresident decedent must file ET Forms 2 and 4 if the decedent owned the
following types of property: real property situated in Ohio; tangible personal property having an
actual situs in Ohio; and intangible personal property employed in carrying on a business
within Ohio (unless exempted under Section 5731.34). The filing requirements are the same
as for a resident decedent, except the return may be filed directly with the county probate
court where the Ohio property is located. To support evidence of domicile, an ET forms 20,
Affadavit of Domicile, should be completed and submitted directly to the Esate Tax Unit.

Additional tax
(Sections 5731.18,
5731.19 and 5731.24)

An additional tax is due when the federal state death tax credit exceeds the Ohio tax paid. If
an estate (resident or nonresident) falls into the federal estate tax category, ET Forms 3 or 3N
(Additional Tax Returns) may be required to be filed. The return and payment are due sixty
(60) days after the date of the final determination of the federal estate tax liability (closing
letter or equivalent as issued by the I.R.S.). The additional tax shall be paid, without notice or
demand by the Tax Commissioner, with the return, and shall be filed and paid in the same
manner as the estate tax, except that interest begins to accrue sixty (60) days after the date
of the final determination of the federal estate tax liability.

Distribution of tax
(Sections 5731.48 and
5731.50)

For dates of death after June 30, 1983, sixty-four (64) percent of the tax is distributed to the
municipal corporation, village or township in which the tax originates and thirty-six (36) percent to the state of Ohio.

Marital deduction
(Section 5731.15)

A marital deduction may be taken for certain property interests that pass from the decedent to
the surviving spouse. Property interests that should be listed include the following: (1) survivor
of tenancy by the entirety or joint tenancy; (2) appointee under decedent’s exercise of a
power; (3) statutory interests passing to a spouse as a result of a right of election to take
against the will; and (4) bequests from decedent pursuant to will.
Property interests that should not be listed include: (1) property that does not pass from
decedent to surviving spouse; (2) qualified terminable interests for which QTIP election is not
made; and (3) property that has been disclaimed by a surviving spouse under O.R.C. Section
1339.60.

For further information, please contact the Estate Tax Unit’s
Toll-free Information and Assistance Line at

1-800-977-7711.

- 20 -

Explanation of Elections
Alternate Valuation Date (O.R.C. Section 5731.01(A) and (D))
The gross estate may be valued on the decedent’s date of
death or on an alternate valuation date. The alternate valuation
date is six months from date of death unless the property item
is sold, disposed of or distributed within that six months.
The executor must make an election by checking “yes” in the
Elections Section of the return. This election is mutually exclusive of the federal election. However, it must be elected

within one year and nine months from the date of decedent’s
death or within one year from any extensions granted by the
tax commissioner. Once made, this election is irrevocable.
If alternate valuation is elected, please list both date of death
values and alternate values, and the alternate valuation date
on the applicable schedules.

Qualified Farm Property Valuation (O.R.C. Section 5731.011)
The estate may elect Qualified Farm Property Valuation for
determining the value of farm property as an alternative to its
fair market value. To have qualified farm property valued at this
special valuation, certain conditions must be met.* This election must be made on a timely filed return determined
with regard to any approved extensions of time to file.
To help expedite the audit, please attach the following:

3. Current Agricultural Use Valuation (CAUV) cards (from
county auditor);
4. Fair market value appraisal (broken down into one-acre
homesite, improvements and bare land only).
If the qualified farm property valuation is elected, use the qualified farm property value column in Schedule A or identify the
qualified property under Schedule E or G.

1. A complete ET Form 34 and 34A from Probate Court;
*Please refer to ET Bulletin 5.

2. Most recent county auditor real estate property record;

Qualified Terminable Interest Property (QTIP)
(O.R.C. Section 5731.15)
The Qualified Terminable Interest Property (QTIP) election allows certain life estates held for the surviving spouse to qualify
for the marital deduction.
The requirements for QTIP are the following:
1. Surviving spouse must receive all the income for life payable annually or at more frequent intervals; and
2. No one can have a power to appoint the property to any
person other than the surviving spouse during surviving
spouse’s life; and

made, it is irrevocable. This election must be made on a
timely filed return determined with regard to any approved
extensions of time to file.
The executor may make a partial QTIP election only if it is in
the form of a fraction or percentage of available QTIP property.
The specific interest should be clearly identified as QTIP.
The surviving spouse’s estate must include all QTIP property
claimed in the first spouse’s estate, to the extent not consumed or given away, at the value on the date of death of the
surviving spouse.

3. The executor must make an election by checking “yes” in
the Elections Section of the return. Once the election is

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