Instructions For Rev-1509 Schedule F - Jointly-Owned Property

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Instructions for Rev-1509 Schedule F
Jointly-Owned Property
Description
An estate representative may
General Information
request that the Department issue a
Report all property of whatever kind
separate tax notice for tax due on
or character, whether real estate
jointly owned assets directly to the
situated in the Commonwealth of
Purpose of Schedule
surviving owner by filling in the oval
Pennsylvania or personal property in
Use Rev-1509 Schedule F to report
below Line 6 of the REV-1500. All
which the decedent held an interest
all property in which the decedent
information requested on Schedule F
as a joint tenant with a right of
held an interest as joint tenants with
must be completed, including the
survivorship.
right of survivorship.
surviving joint owner’s address, in
order for the Department to issue a
Note. Assets held jointly
notice. This option should only be
between spouses are not
Form Instructions
used when the estate representative
reportable for inheritance tax
does not wish to pay the tax on the
purposes.
Estate of
jointly-owned assets from estate
funds and if the decedent’s will does
Enter the complete name of the
not have a stipulation stating that all
estate as shown on the REV-1500,
taxes from whatever conveyance
Pennsylvania Inheritance Tax Return.
Value at Date of Death
shall be paid out of the probate
When reporting the assets indicate
estate.
the date the asset was placed into
File Number
joint ownership, the exact balance or
Enter the file number of the estate
market value at date of death, and
assigned by the Register of Wills as
Total
the value of the taxable interest.
shown on the REV-1500,
Total all items in the Value at Date of
Each description must show the
Pennsylvania Inheritance Tax Return.
Death column and enter value here.
exact registration of the asset and
Enter this value on Line 6 Page 2 of
the appropriate letter, A. B. C. etc.,
the REV-1500.
to indicate the name, address, and
General Instructions
relationship of each of the surviving
joint tenants to the decedent.
Surviving Joint Tenant(s)
If the jointly held asset is a
Information
rollover from a previously jointly held
Enter the surviving joint tenants
account, that information should be
Caution. Assets made joint
name, address and relationship to
reported, including date originally
within one year of death are
decedent.
issued and the date the rollover
reported on Schedule G.
occurred.
Jointly Owned Property
Do not report a retained life
Important. If the surviving
Enter letter corresponding with the
interest on this schedule.
joint owner of any asset has
joint tenant, date asset was made
received a separate
joint, description of property, date of
assessment notice from the
death value, percentage of
Department and paid the tax due on
decedent’s interest and the value of
a specific joint asset, the value of
decedent’s interest.
that asset should not be included in
the total for this schedule.

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