Pennsylvania Schedule M - Future Interest Compromise (Instructions)

Schedule M - Future Interest Compromise (Instructions)
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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