Form Rev-414 - Estates And Trusts Worksheet

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REV-414(F) EX (07-14)
ESTATES AND TRUSTS WORKSHEET
PA DEPARTMENT OF REVENUE
(Keep for your records.)
PART A. 2015 PA ESTIMATED TAX WORKSHEET
1. Enter the expected 2015 PA taxable income for the estate or trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
2. Estimated 2015 deductions for distributions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
3. Estimated 2015 PA taxable estate or trust income. Subtract Line 2 from Line 1. . . . . . . . . . . . . . . . . . 3.
4. Estimated 2015 PA estate or trust tax. Multiply Line 3 by 3.07% (0.0307). . . . . . . . . . . . . . . . . . . . . . 4.
5. Estimated Nonresident Tax Withheld if the estate or trust is a shareholder in
a PA S corporation. For a NONRESIDENT estate or trust ONLY. . . . . . . . . . . . . . . . . . . . . 5.
6. Estimated Credit for Income Tax Paid to Other States. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.
7. Estimated PA Employment Incentive Payment Credits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.
8. Estimated PA Job Creation Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.
9. Estimated PA Research and Development Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.
10. Estimated PA Film Production Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.
11. Estimated PA Keystone Innovation Zone Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.
12. Estimated PA Resource Enhancement and Protection Tax Credit. . . . . . . . . . . . . . . . . . . . 12.
13. Estimated PA Neighborhood Assistance Program Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . 13.
14. Estimated PA Strategic Development Area Job Creation Tax Credit. . . . . . . . . . . . . . . . . . . 14.
15. Estimated PA Educational Improvement Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.
16. Estimated PA Keystone Special Development Zone Tax Credit. . . . . . . . . . . . . . . . . . . . . . 16.
17. Estimated PA Historic Preservation Incentive Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . 17.
18. Estimated PA Community-Based Services Tax Credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.
19. Other PA Schedule OC Credits not listed above. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.
20. Estimated Other PA Tax Withheld. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.
21. Total Estimated Credits. Add Lines 5 through 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.
22. TOTAL 2015 ESTATE OR TRUST ESTIMATED TAX. Subtract Line 21 from Line 4. . . . . . . . . . . . . . 22.
23. Enter 90% of Line 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.
24. Enter 100% of the 2014 net PA taxable income of the estate or trust,
after the distributions deductions, from its PA-41. ($0 if no return filed in 2014) . . . . . . . . . 24.
25. Figure the tax by multiplying Line 24 by 3.07% (0.0307). . . . . . . . . . . . . . . . . . . . . . . . . . . 25.
26. TOTAL REQUIRED ANNUAL ESTIMATED TAX FOR THE ESTATE OR TRUST.
Enter the smaller of Line 23 or 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.
NOTE: If Line 26 is less than $246, the estate or trust generally does not have to make estimated tax payments.
CAUTION: If Line 26 is less than $246, the estate or trust may still be subject to estimated underpayment penalties if the estate or
trust’s tax liability for 2015 after payments and credits is more than $246. If the estate or trust has unexpected income or income
grows to an amount in excess of $8,000 with no payments or credits being scheduled for the tax year, the estate or trust should
immediately file an amended declaration and make estimated tax payments accordingly.
NOTE. The department will apply the credit from the 2014 PA-41 form as of the due date of the 2014 PA-41 form. If the 2014
credit is greater than the first 2015 installment payment, it is not necessary to file the first estimated form. The department does
not require a 2015 estimated form until you must make a PA PIT estimated installment payment on behalf of the estate or trust.
PART B. 2015 AMENDED PA ESTIMATED TAX SCHEDULE (USE IF ESTIMATED TAX CHANGES DURING THE YEAR)
1. Amended estimated tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.
2. Amount of 2014 overpayment applied to 2015 estimated tax and payments to date. . . . . . . . . . . . . . 2.
3. Estimated tax payments to date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
4. Total (add Lines 2 and 3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.
5. Unpaid balance (subtract Line 4 from Line 1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.
PART C. 2015 RECORD OF ESTIMATED TAX PAYMENTS
Payment
(c) 2014 overpayment
(d) Total amount paid and
(a) Date
(b) Amount
number
credit applied
credited [add (b) and (c)]
1
2
3
4
Total
07 PDR 095847

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