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Pennsylvania Free Printable Instructions for REV-1512 Schedule I - Debts of Decedent, Mortgage Liabilities & Liens for 2024 Pennsylvania Schedule I - Debts of Decedent, Mortgage Liabilities & Liens (Instructions)

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Schedule I - Debts of Decedent, Mortgage Liabilities & Liens (Instructions)
Instructions for REV-1512 Schedule I - Debts of Decedent, Mortgage Liabilities & Liens

Instructions for REV-1512 Schedule I REV-1512 EX (02-15) Debts of Decedent, Mortgage Liabilities & Liens GENERAL INFORMATION as those filed while the decedent is under bankruptcy. PURPOSE OF SCHEDULE Use REV-1512 Schedule I to report all valid debts of the decedent owed at the time of death. IMPORTANT: When a tax is imposed upon a transfer of jointly owned property by right of survivorship (see REV-1509, Schedule F) or a taxable inter-vivos transfer (see REV-1510, Schedule G), the deductions will be allowed to the transferee only to the extent that the transferee has actually paid the deductible items and either the transferee was obligated to pay the deductible items or the estate subject to administration by a personal representative is insufficient to pay the deductible items. The transferee must show that the same debts are not also claimed by an executor, administrator, or other personal representative handling the administration of the decedent’s estate. FORM INSTRUCTIONS Estate of Enter the complete name of the estate as shown on REV-1500, Pennsylvania Inheritance Tax Return. File Number Enter the file number of the estate assigned by the Register of Wills as shown on REV-1500, Pennsylvania Inheritance Tax Return. GENERAL INSTRUCTIONS Description Unless otherwise noted, debts of the decedent including mortgages and liens on real estate are deductible regardless of whether or not assets comprising the taxable estate are employed in the payment or discharge of the deductible items. However, uncollectible liens are not allowable as a debt of the decedent. These would include invalid liens such www.revenue.pa.gov Examples of obligations which should be itemized on REV-1512, Schedule I include property taxes due and owing prior to decedent’s death, secured loans, liabilities and claims based on a promise or agreement, provided that the liability was contracted bona fide and for an adequate and full consideration. Expenses incurred in treating the decedent’s last illness, which are unpaid at the time of death, are not deductible if they will be paid, or the estate will be reimbursed for their payment, from other sources such as medical insurance. Include only expenses, which will not be paid or reimbursed by medical insurance. Debts incurred by the decedent prior to death with respect to real property held in the decedent's name alone, such as mortgages, repairs, and utilities, are allowed. However, when the decedent held title jointly with another or others, with rights of survivorship, or as a tenant-in-common, debts incurred prior to the decedent's death are only allowed to the same extent as the decedent's fractional interest in the real property. Proof of mortgage liabilities must always be provided. If the decedent transferred title to real property within one year prior to the date of death, deductions will be limited to those for which the decedent was actually liable at the date of death. Total Total all items in the Value at Date of Death column and enter value here. Enter this value on Line 10, Page 2 of REV-1500. REV-1512 1
Extracted from PDF file 2023-pennsylvania-rev-1512-instructions.pdf, last modified April 2015

More about the Pennsylvania REV-1512 (Instructions) Individual Income Tax TY 2023

Instructions for Form REV-1512

We last updated the Schedule I - Debts of Decedent, Mortgage Liabilities & Liens (Instructions) in February 2024, so this is the latest version of REV-1512 (Instructions), fully updated for tax year 2023. You can download or print current or past-year PDFs of REV-1512 (Instructions) directly from TaxFormFinder. You can print other Pennsylvania tax forms here.

Related Pennsylvania Individual Income 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-1512 (Instructions).

Form Code Form Name
REV-1512 (Schedule I) Debts of Decendent, Mortgage liabilities & liens
Form REV-1512 Schedule I - Debts of Decedent, Mortgage Liabilitities & Liens

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-1512 (Instructions) from the Department of Revenue in February 2024.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Pennsylvania REV-1512 (Instructions)

We have a total of two past-year versions of REV-1512 (Instructions) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 REV-1512 (Instructions)

Instructions for REV-1512 Schedule I - Debts of Decedent, Mortgage Liabilities & Liens

2022 REV-1512 (Instructions)

Instructions for REV-1512 Schedule I - Debts of Decedent, Mortgage Liabilities & Liens

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