Pennsylvania Schedule G - Inter-Vivos Transfers and Misc. Non-Probate Property

Schedule G - Inter-Vivos Transfers and Misc. Non-Probate Property
Schedule G - Inter-Vivos Transfers and Misc. Non-Probate Property (REV-1510)
1510019105
(EX+) MOD 03-19 (FI)

REV-1510

BurEau OF InDIvIDual TaXEs
PO BOX 280601
HarrIsBurg Pa 17128-0601

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SCHEDULE G
INTER-VIVOS TRANSFERS AND
MISC. NON-PROBATE PROPERTY

ESTATE OF:

ITEM
NUMBER

LAST 4 DIGITS
OF ACCOUNT ID

FILE NUMBER:
DESCRIPTION OF PROPERTY
INCLUDE THE NAME OF THE TRANSFEREE, THE RELATIONSHIP TO DECEDENT
AND THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE.

% OF
EXCLUSION
DATE OF DEATH
DECEDENT’S
(IF APPLICABLE)
VALUE OF ASSET INTEREST

TAXABLE
VALUE

1.

TOTAL (Also enter on Line 7, Recapitulation)

$

0.00

If more space is needed, use an additional Schedule G.

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Pennsylvania Department of Revenue

Instructions for REV-1510

rEv-1510 In (EX+) 03-19

schedule g – Inter-vivos Transfers and Misc. non-Probate Property

GENERAL INFORMATION

TRANSFERS SUBJECT TO TAX

PURPOSE OF SCHEDULE
Use REV-1510, Schedule G to report all transfers made by
decedent during life, by trust or otherwise, to the extent that
they were made without valuable and adequate consideration in money or money’s worth at the time of the transfer.

IRAs, ANNUITIES AND PENSION PLANS
IRAs are fully taxable if the decedent was 59½ years of age
or older or considered disabled at any age.

FORM INSTRUCTIONS
ESTATE OF
Enter the complete name of the estate as shown on the
REV-1500, Pennsylvania Inheritance Tax Return.
FILE NUMBER
Enter the file number of the estate assigned by the Register
of Wills as shown on the REV-1500, Pennsylvania
Inheritance Tax Return.

GENERAL INSTRUCTIONS
LAST FOUR DIGITS OF ACCOUNT ID
Enter the last four digits of the account number or similar
identifying number of the property being reported.
DESCRIPTION OF PROPERTY
Report the name of the transferee, transferee's relationship
to the decedent and the date of the transfer.
Supply a copy of the deed for real estate.
DATE OF DEATH VALUE
Transfers should be valued as of the date of death and not
the date of transfer. Include all transfers in the gross estate
on this schedule.
% OF DECEDENT’S INTEREST
Report the percent of the decedent’s interest that is subject
to tax.
EXCLUSION
Transfers made within one year of death are eligible for a
$3,000 exclusion to the extent they exceed $3,000 in value. A
$3,000 exclusion may be taken per transferee, per calendar
year.
For example, if the decedent transferred $10,000 within
one year of death, $7,000 would be subject to tax.
TAXABLE VALUE
Enter the taxable amount of the decedent’s interest less
any exclusion if applicable. This is the amount subject to
tax.
TOTAL
Total all items in the Taxable Value column and enter value
here. Enter this value on Line 7, Page 2 of the REV-1500.
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If the decedent was younger than 59½ years of age, the
IRA is taxable only if he or she was disabled and not subject to the 10 percent penalty imposed by the IRS for a premature withdrawal.
Annuities are fully taxable.
Employer-sponsored retirement and/or pension plans are
exempt from tax if the decedent, during his lifetime, did not
have the right to possess, enjoy, assign or anticipate the
payments made. A pension plan where the decedent’s only
rights were to designate a beneficiary and receive a regular
monthly payment are not subject to tax.
IMPORTANT: When a retirement and/or pension
plan is reported as being exempt, a copy of the plan
summary is required.
JOINT TENANCY
Any assets made joint with another person within one year
of death are fully taxable. The transferee may claim a
$3,000 exclusion.
RETAINED REVERSIONARY INTEREST
Transfers where the decedent reserved the right to regain
or reassert control of the asset are taxable if the reversionary interest exceeds 5 percent of the value of the transferred property.
LIFE ESTATE
Transfers in which the decedent reserved a life interest are
fully taxable. This includes transfers where the decedent
expressly or impliedly reserved for life or any period which
does not, in fact, end before death, the income or enjoyment of the property.
For example, a reservation of a life interest includes the
right to use or occupy the property or receive rents.
Continued occupancy without the payment of rent would
subject the property to tax.
PROMISES BY TRANSFEREE
Transfers in which the transferee promises to make payments to or care for the transferor during the remainder of
the transferor’s life may be subject to tax.
REVOCABLE AND TENTATIVE TRUSTS
Trusts include transfers under which the decedent had the
power to alter, amend, or revoke the interest of the beneficiary, e.g. In trust for (ITF) accounts.
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IMPORTANT: When a trust is reported, a copy of the
instrument creating the trust is required as well as a
valuation of the assets contained in the trust.

Schedule G must be completed and the address of the
transferee included. This option should be used only when
there is no tax clause requiring the estate to pay the tax.

An estate representative may request separate billing for
non-probate assets. All information on REV-1510,

IMPORTANT: Life insurance proceeds on the life of
the decedent are not subject to inheritance tax.

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