Updated October 18, 2026. Quick answer: Schedule A is the statement a beneficiary receives about property acquired from an estate. Part I identifies the decedent, beneficiary and executor, and Part II lists each property with its description, interest, valuation date and estate tax value. Every entry comes from the estate tax return.
Related reading on this site: IRS Publication 551.
Who gets a Schedule A
“An executor is required to furnish a Schedule A to a beneficiary (including an executor who is a beneficiary) that acquired property subject to reporting if:” “Any property acquired by the beneficiary is not excepted property”. Beyond that, “the executor may nevertheless report the property on a Schedule A furnished to a beneficiary that the executor has reason to believe will acquire the property.” On delivery: “Furnish each Schedule A only to the beneficiary named on that Schedule A.” Excepted property is listed on the who must file, when to file and excepted property page.
Part I lines 1 to 8: general information
The form titles the part “General Information (see instructions)”. It repeats the decedent, beneficiary and executor details from Form 8971. Line 8 is the supplement line: “Check the first box on line 8 if this Schedule A supplements a previously furnished Schedule A.” Then “check each of the remaining boxes that applies to this Schedule A to indicate the reason for the supplement.” The Form 8971 side is on the Part I page.
Part II columns (a) to (d): number and description
The form title is “Information on Property Acquired (see instructions)”. The first instruction: “You will need a copy of the Form 706 or Form 706-NA to complete this schedule.” Column (a): “Number each property for which the executor furnished or is required to furnish a Schedule A.”
Columns (b) to (d) reuse the estate tax return’s wording: the description is the one “that the executor used for the property on the Form 706 or Form 706-NA.” Also “include in columns (b) and (c) the schedule and item number where the property was reported on Form 706 or Form 706-NA, as applicable.” On attachments: “Do not attach property appraisals to Schedule A.” The return’s own schedules, such as the Form 706 Schedule A real estate page describes, supply the item numbers.
Columns (e) to (g): interest, estate tax effect and date
Column (e) records a partial interest: “indicate the interest in the property the beneficiary will acquire.” “For a community property interest, report only the interest includible in the decedent’s gross estate (for example, 50% community property interest).”
Column (f): “An entry (Y or N) is required in this column for each asset.” “Generally, any property that qualifies for a marital deduction under section 2056 or 2056A or a charitable deduction under section 2055 won’t generate estate tax and “N” should be indicated.”
Column (g): “Generally, the valuation date of property will be the decedent’s date of death.” “If the estate elected to use an alternate valuation date, enter the alternate valuation date.”
Column (h): estate tax value
“Enter the estate tax value of the property acquired by the beneficiary.” Before the value is final: “Until the final value of property is determined for federal estate tax purposes, the estate tax value to be reported on Schedule A is the value of the property reported on the Form 706 or Form 706-NA or, when applicable, a supplement to the Form 706 or Form 706-NA.” “Once the final value of property is determined, the estate tax value to be reported on Schedule A is the final value of the property.”
Shared property: “For each beneficiary that acquires an undivided interest in property, such as a tenantincommon or joint tenant interest, report the proportional value of the undivided interest acquired by the beneficiary.” “For example, if an estate property valued on the Form 706 at $400,000 is distributed to Beneficiary 1 and Beneficiary 2 as equal tenantsincommon, list $200,000 on each beneficiary’s Schedule A.”
Time-limited interests: “For each beneficiary that acquires an interest in property limited by time, such as a life estate or remainder interest, list the full value of the property as reported on the Form 706 or Form 706-NA.”
Lines 2 to 4: the totals
Line 2 is “Add all amounts in column (h)”. Line 3 is “Total from column (h) from additional Parts II attached to this schedule”. Line 4 is “Total estate tax value of property reported on this Schedule A. Add lines 2 and 3”. On a duplicate page: “Do not complete lines 3 and 4 on any duplicate page 2.”
The notice to beneficiaries
Each Schedule A carries a printed notice. It reads “You have received this schedule to inform you of the value of property you received from the estate of the decedent named above.” “Retain this schedule for tax reporting purposes.” It also says “If the property increased the estate tax liability, IRC section 1014(f) applies, requiring the consistent reporting of basis information.” And it ends “For more information on determining basis, see IRC section 1014 and/or consult a tax professional.” Basis after a death is discussed on the step-up can also be a step-down and inherited home sale capital gains pages.
The instructions explain why it matters: “If a beneficiary acquires property subject to the consistent basis requirement, the beneficiary cannot use a value higher than the value reported on the Schedule A as the beneficiary’s initial basis in the property.”
What to enter and where it comes from
The descriptions, item numbers and values come from the estate tax return, which is why the instructions tell you that “You will need a copy of the Form 706 or Form 706-NA to complete this schedule.” The return is explained on the Form 706 page.
Where it goes next
“Attach a copy of each completed Schedule A to a Form 8971 (or supplement) filed with the IRS.” The beneficiary receives only their own Schedule A. The summary table on Form 8971 is on the Part II page.
Edition and line numbers
This page reads Form 8971 (Rev. August 2025), Schedule A (Form 8971) dated August 2025, and the Instructions for Form 8971 and Schedule A (Rev. August 2025). Those are the current files irs.gov served on 2026-10-18. The form carries the caption “(Rev. August 2025)” and the instructions carry “(Rev. August 2025)”. Check the revision date printed on your own Form 8971 and Schedule A, and use that revision’s line numbers, because a different revision can number or word its lines differently.
Common mistakes
- Giving a beneficiary someone else’s Schedule A or the whole filing. The instructions say “Furnish each Schedule A only to the beneficiary named on that Schedule A.”
- Attaching appraisals or the return’s schedules. The instructions say “Do not attach property appraisals to Schedule A.” and “Do not attach schedules from Form 706.”
- Entering a split value for a life estate and a remainder. The instructions say “list the full value of the property as reported on the Form 706 or Form 706-NA.”
Related: Form 8971, step-up can also be a step-down, inherited home sale capital gains, community property double step-up, and Form 706 Schedule A real estate.
Find the right next step for your situation
About how much do you have invested? Pick the range that fits; your next step appears immediately below.
advisor help with inherited property basis
For U.S. investors with $250,000 or more in investable assets. WiserAdvisor is an independent service matching you with 2 to 3 vetted advisers. Its form asks for your ZIP code and answers to a few questions; a match is not guaranteed.
Free to request, with no obligation to hire. By submitting, you consent to calls, texts and emails from WiserAdvisor and up to three advisers. Advisers pay for introductions.
Clear Money Guide may earn a referral payment for a qualifying completed form. An introduction is not a Clear Money Guide recommendation.
Opens on WiserAdvisor’s site in a new tab.
inherited property basis planning options
Price the destination before you decide. The matching service below introduces you to advisers who pay to meet you.
Before you start, what actually happens. The form is run by Kapitalwise, our advisor-matching partner. Kapitalwise sends your details to advisers who pay for the introduction, so expect calls and texts. Clear Money Guide may earn a referral payment for a qualifying submitted form, whether or not you ever hire anyone. This is free to you and there is no obligation to hire anyone.
The Kapitalwise form opens here; you stay on this page.
What happens when you press the button
It asks about nine questions: age, investable assets, location; then your name, email and phone number, and verifies the phone by text. Nothing loads and nothing reaches Kapitalwise until you press the button.
Prefer flat-fee or hourly pricing instead? Compare ranges here.
Answer againSources
- Instructions for Form 8971 and Schedule A (Rev. August 2025): https://www.irs.gov/pub/irs-pdf/i8971.pdf
- Schedule A (Form 8971), Beneficiary Information Regarding Property Acquired From a Decedent (August 2025): https://www.irs.gov/pub/irs-pdf/f8971sa.pdf
Read from the IRS documents linked above on October 18, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer, the account provider or the IRS is the right place to confirm anything consequential.