What must be included on the inheritance tax return?

All real and personal property in which the decedent owned or has an interest must be included on the tax return. Examples of taxable property include:

  • Real estate
  • Cash
  • Bank accounts even if located outside Tennessee
  • Certificates of deposit plus accrued interest
  • Money
  • Stocks, bonds
  • Life insurance payable to named beneficiaries or to the estate
  • Mortgages, notes receivable
  • Debts due the decedent
  • Household goods
  • Livestock
  • Growing crops
  • Farm machinery
  • Automobiles
  • Income tax refunds
  • Boats, travel trailers
  • Royalties
  • Jewelry
  • Antiques
  • Cash surrender value of life insurance policies owned by decedent on another's life
  • Business interests including sole proprietorships and partnership interests
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