Through research, I've learned that disclaiming inheritance results in the effect of a gift given to the heir(s) that ends up receiving the share you would have received. So it seems a form 709 would be completed with the "gift" shown to being given to heir(s) who have not disclaimed their portion by the close of Probate or final closure of the property transfer. After probate, if an heir wants to give/sell their portion, a quit claim deed would be prepared. Then I don't know: either capital gains would be declared or handled as a gift ... (?)
I haven't looked at the form 709 to check whether or not an area is set aside for disclaimers. But I won't be surprised if such a field is not there.
Thank you!
