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Pennsylvania Department of Revenue
Instructions for REV-1510
rEv-1510 In (EX+) 03-19 schedule g – Inter-vivo sTrans rsfe an d Misc. non-Pr obate Property
GENERAL INFORMATION TRANSFERS SUBJECT TO TAX
PURPOSE OF SCHEDULE IRAs, ANNUITIES AND PENSION PLANS
Use REV-1510, Schedule G to report all transfers made by IRAs are fully taxable if the decedent was 59½ years of age
decedent during life, by trust or otherwise, to the extent that or older or considered disabled at any age.
they were made without valuable and adequate considera-
tion in money or money’s worth at the time of the transfer. If the decedent was younger than 59½ years of age, the
IRA is taxable only if he or she was disabled and not sub-
FORM INSTRUCTIONSject to the 10 percent penalty imposed by the IRS for a pre-
mature withdrawal.
ESTATE OF
Enter the complete name of the estate as shown on the Annuities are fully taxable.
REV-1500, Pennsylvania Inheritance Tax Return. Employer-sponsored retirement and/or pension plans are
FILE NUMBER exempt from tax if the decedent, during his lifetime, did not
Enter the file number of the estate assigned by the Register have the right to possess, enjoy, assign or anticipate the
of Wills as shown on the REV-1500, Pennsylvania payments made. A pension plan where the decedent’s only
Inheritance Tax Return. rights were to designate a beneficiary and receive a regular
monthly payment are not subject to tax.
GENERAL INSTRUCTIONS IMPORTANT:When a retirement and/or pension
plan is reported as being exempt, a copy of the plan
LAST FOUR DIGITS OF ACCOUNT ID summary is required.
Enter the last four digits of the account number or similar
identifying number of the property being reported. JOINT TENANCY
Any assets made joint with another person within one year
DESCRIPTION OF PROPERTY
of death are fully taxable. The transferee may claim a
Report the name of the transferee, transferee's relationship
$3,000 exclusion.
to the decedent and the date of the transfer.
RETAINED REVERSIONARY INTEREST
Supply a copy of the deed for real estate.
Transfers where the decedent reserved the right to regain
DATE OF DEATH VALUE or reassert control of the asset are taxable if the reversion-
Transfers should be valued as of the date of death and not ary interest exceeds 5 percent of the value of the trans-
the date of transfer. Include all transfers in the gross estate ferred property.
on this schedule.
LIFE ESTATE
% OF DECEDENT’S INTEREST Transfers in which the decedent reserved a life interest are
Report the percent of the decedent’s interest that is subject fully taxable. This includes transfers where the decedent
to tax. expressly or impliedly reserved for life or any period which
EXCLUSION does not, in fact, end before death, the income or enjoy-
Transfers made within one year of death are eligible for a ment of the property.
$3,000 exclusion to the extent they exceed $3,000 in value. A For example, a reservation of a life interest includes the
$3,000 exclusion may be taken per transferee, per calendar right to use or occupy the property or receive rents.
year. Continued occupancy without the payment of rent would
For example, if the decedent transferred $10,000 within subject the property to tax.
one year of death, $7,000 would be subject to tax. PROMISES BY TRANSFEREE
TAXABLE VALUE Transfers in which the transferee promises to make pay-
Enter the taxable amount of the decedent’s interest less ments to or care for the transferor during the remainder of
any exclusion if applicable. This is the amount subject to the transferor’s life may be subject to tax.
tax.
REVOCABLE AND TENTATIVE TRUSTS
TOTAL Trusts include transfers under which the decedent had the
Total all items in the Taxable Value column and enter value power to alter, amend, or revoke the interest of the benefi-
here. Enter this value on Line 7, Page 2 of the REV-1500.ciary, e.g. In trust for (ITF) accounts.
www.revenue.pa.gov REV-15101
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