Pennsylvania Schedule M - Future Interest Compromise

Schedule M - Future Interest Compromise
Schedule M - Future Interest Compromise (REV-1647)REV-1647 EX+ (01-15)

SCHEDULE M
FUTURE INTEREST COMPROMISE

INHERITANCE TAX RETURN
RESIDENT DECEDENT

START

ESTATE OF

FILE NUMBER

➜

This schedule is appropriate only for estates of decedents who died after Dec. 12, 1982.
This schedule is to be used for all future interests where the rate of tax that will be applicable when the future interest vests in
possession and enjoyment cannot be established with certainty.
Indicate below the type of instrument that created the future interest and attach a copy to the tax return.

I.

o

Beneficiaries

Will

o

NAME OF BENEFICIARY

o

Trust

RELATIONSHIP

Other
DATE OF BIRTH
DD/MM/YYYY

AGE TO
NEAREST BIRTHDAY

1.
2.
3.
4.
5.

II. For decedents who died on or after July 1, 1994, if a surviving spouse exercised or intends to exercise a right of withdrawal within
nine months of the decedent’s death, check the appropriate box below and attach a copy of the document in which the surviving spouse
exercises such withdrawal right.

III.

o

Unlimited right of withdrawal

Explanation of Compromise Offer:

o

Limited right of withdrawal

IV. Summary of Compromise Offer:
1.

Amount of future interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

2.

Value of Line 1 exempt from tax as amount passing to charities, etc.
(Also include as part of total shown on Line 13 of REV-1500.) . . . . . . . . $

3.

Value of Line 1 passing to spouse at appropriate tax rate
Check one.
o 6%, o 3%, o 0% . . . . . . . . . . . . . . . . . . . . $
(Also include as part of total shown on Line 15 of REV-1500.)

4.

Value of Line 1 taxable at lineal rate
Check one.
o 6%, o 4.5% . . . . . . . . . . . . . . . . . . . . . . . . . $
(Also include as part of total shown on Line 16 of REV-1500.)

5.

Value of Line 1 taxable at sibling rate (12%)
(Also include as part of total shown on Line 17 of REV-1500.) . . . . . . . . $

6.

Value of Line 1 taxable at collateral rate (15%)
(Also include as part of total shown on Line 18 of REV-1500.) . . . . . . . . $

7.

Total value of future interest (sum of Lines 2 thru 6 must equal Line 1) . . . . . . . . . . . . . . . . . . . . . . $
If more space is needed, use additional sheets of paper of the same size.

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Extracted from PDF file 2023-pennsylvania-form-rev-1647.pdf, last modified March 2010

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More about the Pennsylvania Form REV-1647 Estate Tax TY 2023

We last updated the Schedule M - Future Interest Compromise in February 2024, so this is the latest version of Form REV-1647, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form REV-1647 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 Form REV-1647.

Form Code	Form Name
REV-1647 (Instructions)	Schedule M - Future Interest Compromise (Instructions)

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 Form REV-1647 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 Form REV-1647

We have a total of twelve past-year versions of Form REV-1647 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form REV-1647