Ms. Ocean died July 15, 2017. Her gross estate is large enough that Form 706 must be filed. Her personal residence was included in her gross eaten, which had a date of death value of $780,000. Her cost in the home was $295,000. Ms Ocean owed $120,000 to City Bank on a mortgage secured by the home. THE STATE IS LIABLE FOR THIS DEBT. The home is in Ms. Ocean's name with her niece designated for transfer on death. What value should be reported on Form 706 for Ms Ocean's personal residence and on which schedule should it be reported? (ANSWERS I READ ON THIS SITE ARE $780,000 ON SCHEDULE A. HOWEVER, THE DECEDENT IS NOT RESPONSIBLE FOR THE MORTGAGE DEBT OF $120,000, THE STATE IS. SO I BELIEVE THAT THE $120,000 SHOULD BE SUBTRACTED FROM THE SALE PRICE AND THE ANSWER SHOULD BE $660,000 REPORTED ON SCHEDULE A. PLEASE CONFIRM ANSWER. THANKS!