Reply To: Form F706

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#3944
kaneohe
Participant

CA currently does not have an estate tax so there is no CA requirement although there is/was legislation to start. https://sd11.senate.ca.gov/news/20190326-senator-wiener-introduces-california-estate-tax-proposal-fund-programs-reducing-wealth

Some recommend filing the 706 for portability reasons…….being able to
use a spouse’s unused exemption.
https://www.google.com/search?q=estate+tax+portability&oq=estate+tax+porta&aqs=chrome.0.0j69i57j0l4.5916j0j7&sourceid=chrome&ie=UTF-8

Whether that is useful to you or not depends on your personal circumstances. Seems like valuation for step up cost basis could be documented in other ways.