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Pennsylvania Free Printable Instructions for REV-1508 Schedule E - Cash, Bank Deposits, & Misc. Personal Property for 2024 Pennsylvania Schedule E - Cash, Bank Deposits, & Misc. Personal Property (Instructions)

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Schedule E - Cash, Bank Deposits, & Misc. Personal Property (Instructions)
Instructions for REV-1508 Schedule E - Cash, Bank Deposits, & Misc. Personal Property

Instructions for REV-1508 Schedule E REV-1508 EX (02-15) GENERAL INFORMATION PURPOSE OF SCHEDULE Use Rev-1508 Schedule E to report all gross probate estate assets not reportable under any other schedule. 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 DESCRIPTION Report jewelry, wearing apparel, household goods and furnishings, books, paintings, automobiles, boats, time shares, cash on hand and in financial institutions, money market funds, salaries or wages, rents, rents due, but not collected or rent accrued, but not due on the date of death, leaseholds, royalties, patents, judgments, reversionary or remainder interests, IRA’s, annuities and pension plans payable to the estate. Report all real property situated outside the commonwealth, which the decedent had contracted to sell and for which settlement had not occurred prior to death, provided that the property is not subject to death tax in the state, country or territory wherein the property is located. www.revenue.pa.gov Cash, Bank Deposits, & Misc. Personal Property Tangible personal property located outside of Pennsylvania is not subject to Pennsylvania inheritance tax. If any article (e.g., jewelry, furs, silverware or paintings, etc.) is worth more than $3,000, or if any collection of articles in one category is valued at more than $10,000, include an appraisal by an expert and the appraiser’s statement concerning his qualifications. For cash in banks and other financial institutions, report the name and address of the financial institution, the account number, nature of the account (i.e., checking, savings) and the date of death balance. VALUE AT DATE OF DEATH Report the date of death balance value of each asset. Important. Attach copies of statements obtained from the financial organizations used to determine value. Litigation Proceeds Received Report proceeds received by an estate representative for any personal injury claim instituted by the decedent prior to the decedent’s date of death. Report any proceeds received from a settlement of a wrongful death/survival action claim instituted and paid to the estate representative after the decedent’s date of death. Include the date the monies were received by the estate on the schedule. All personal injury claims instituted prior to the decedent’s date of death and funds allocated to the survival action as part of a wrongful death/survival action claim are subject to Pennsylvania inheritance tax. Important. A copy of the petition filed with the court for the approval of the settlement and/or allocation, and a copy of the signed court order must be attached. If the Department of Revenue has previously reviewed and accepted the settlement, attach verification. In cases where structured settlements have been accepted or there is an agreement to provide payments for a number of years, it will be necessary for the estate to submit information sufficient for the department to calculate the present value of such distributions. Note. Only the decedent’s spouse, child or parent can institute a wrongful death claim. TOTAL Total all items in the Value at Date of Death column and enter value here. Enter this value on Line 5, Page 2 of the REV 1500. Caution. IRA’s, annuities and pension plans that have named beneficiaries should be reported on REV-1510, Schedule G. For estates of decedents with a date of death on or after December 13, 1982, all life insurance policies on the life of the decedent, payable to the estate or to a named beneficiary, are exempt from inheritance tax. REV-1508 1
Extracted from PDF file 2023-pennsylvania-rev-1508-instructions.pdf, last modified May 2015

More about the Pennsylvania REV-1508 (Instructions) Estate Tax TY 2023

We last updated the Schedule E - Cash, Bank Deposits, & Misc. Personal Property (Instructions) in February 2024, so this is the latest version of REV-1508 (Instructions), fully updated for tax year 2023. You can download or print current or past-year PDFs of REV-1508 (Instructions) directly from TaxFormFinder. You can print other Pennsylvania tax forms here.


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Related Pennsylvania Estate Tax Forms:

TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Pennsylvania REV-1508 (Instructions).

Form Code Form Name
Form REV-1508 Schedule E - Cash, Bank Deposits & Misc. Personal Property

Download all PA tax forms View all 175 Pennsylvania Income Tax Forms


Form Sources:

Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania REV-1508 (Instructions) from the Department of Revenue in February 2024.

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About the Estate Tax

The IRS, and many states, impose an estate tax on the transfer of cash and property between a decedent and their beneficiaries. These taxes generally only apply to estates over a certain size threshold, generally several million dollars, and therefore only affects the largest few percent of estates in the United States.

Historical Past-Year Versions of Pennsylvania REV-1508 (Instructions)

We have a total of two past-year versions of REV-1508 (Instructions) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 REV-1508 (Instructions)

Instructions for REV-1508 Schedule E - Cash, Bank Deposits, & Misc. Personal Property

2022 REV-1508 (Instructions)

Instructions for REV-1508 Schedule E - Cash, Bank Deposits, & Misc. Personal Property


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