HomeMy WebLinkAbout06-04-08 (2)REV-1500 EX+ (6-00)
COMMONWEALTH OF
REV-1500
OFFICIAL USE ONLY
PENNSYLVANIA
DEPARTMENT OF REVENUE INHERITANCE TAX RETURN FILE NUMBER
DEPT. 280601
HARRISBURG, PA 17128-0601 RESIDENT DECEDENT -2 ' - ~ 8 ~ 0 0 6 4
COUNTY CODE YEAR NUMBER
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER
F
Z VERRECCHIO, JOHN M. 2 0 1- 7 6- 4 5 6 9
W DATE OF DEATH (MM-DD-Year) DATE OF BIRTH (MM-DD-Year) THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
W REGISTER OF WILLS
V 12/18/2007 02/19/1926
W (IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL) SOCIAL SECURITY NUMBER
F X^ 1.Original Return ^ 2. Supplemental Return ~ 3. Remainder Return (date of death prior to l2-13-82)
Q
~ a ~
~ 4. Limited Estate
~ 4a. Future Interest Compromise (date of death after tz-tz-az)
~ 5. Federal Estate Tax Retum Required
w 00
~ a m
Q 6. Decedent Died Testate (Attach copy of will)
~ 7. Decedent Maintained a Living Trust (Attach copy of must)
_ 8. Total Number of Safe Deposit Boxes
a
a
~ 9. Litigation Proceeds Received
~ 10. SpoUSal POVerty Credit (date of death between 12-31-91 and 1-1-95)
~ 11. Election to tax under Sec. 9113(A) (Atach scn o)
F, THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
w NAME COMPLETE MAILING ADDRES:~
o MURREL R. WALTERS, 111, ESQ. 54 EAST MAIN STREET
w FIRM NAME (If Applicable)
w
p TELEPHONE NUMBER
~ 717-697-4650 MECHANICSBURG PA 17055
1. Real Estate (Schedule A)
(1) OFFICIAL USE ONLY
2. Stocks and Bonds (Schedule B) (2)
~~
3. Closely Held Corporation, Partnership or Sole-Proprietorship (3) C7 ` ~' _ r..~
~ `~' _ t ~ ~
`
4. Mortgages & Notes Receivable (Schedule D)
(4) c
: , t^`)
~ ~- : ~?
-
5. Cash, Bank Deposits & Miscellaneous Persona
l Property (5)
1 t32,775.88 1
--~ ~
, ~~> ~n r ( LL;=i
(Schedule E) ,-, c ; ~7 ,""' _~: ~:_
~ 6. Jointly Owned Property (Schedule F) (6) ~--,,~ ~ ~ ~ '~~ - ;
_
~ ~ Separate Billing Requested ~-- `~ ,~^„ fLL«.
j 7. Inter-Vivos Transfers 8 Miscellaneous Non-Pro bate Property (7) ~7 cam' `~~~
H
a
Q
U
W
(SCnetlule G or L) G7
8. Total Gross Assets (total Lines 1-7) (g) _ 182,775.88
9. Funeral Expenses & Administrative Costs (Schedule H) (9) 115,968.40
10. Debts of Decedent, Mortgage Liabilities, 8 Liens (Schedule I) (10) 112,833.09
11. Total Deductions (total Lines 9 & 10) (11) = 28,801.49
12. Net Value of Estate (Line 8 minus Line 11) (12) 153,974.39
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which an election to tax has not been (13) -
made (Schedule J)
14. Net Value Subject to Tax (Line 12 minus Line 13) (14) _ 153,974.39
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
Z
~ 15. Amount of Line 14 taxable at the spousal tax
rate, or transfers under Sec. 9116 (a)(1.2) 0.00 X (15) _ 0.00
H
~ 16. Amount of Line 14 taxable at lineal rate 103,434.60 X .045 (1B) _ 4,654.56
~ 17. Amount of Line 14 taxable at sibling rate 0.00 X 12 (17) _ 0.00
~ 18. Amount of Line 14 taxable at collateral rate 50,539.79 X
15 (18) 7,580.97
U . _
X
Q 19. Tax Due (19) _ 12,235.53
F-
r
> > BE SURE TO ANSWER ALL QUESTIONS ON REVERSE SIDE AND RECHECK MATH < <
decedent's Complete Address:
STREET ADDRESS
115 HILL LANE
CITY STAT= ZIP
MECHANICSBURG PA 17050
Tax Payments and Credits:
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A. Spousal Poverty Credit
B. Prior Payments
C. Discount
3. InteresUPenalty if applicable
D. Interest
E. Penalty
(1) 12,235.53
Total Credits (A + B + C.) (2)
Total Interest/Penalty (D + E: )
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT.
Check box on Page 1 Line 20 to request a refund
5. If Line 1 + Line 3 is greater than Line 2, enter the difference. This is the TAX DUE.
(3)
(4)
0.00
0.00
0.00
{5) 12,235.53
A. Enter the interest on the tax due. (5A)
B. Enter the total of Line 5 +5A. This is the BALANCE DUE. (5B) 12,235.53
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a, retain the use or income of the property transferred : .......................................................................... ^ ^X
b. retain the right to designate who shall use the property transferred or its income : ....................................... ^
c. retain a reversionary interest; or ...................................................................................................... ^ 0
d. receive the promise for life of either payments, benefts or care? ............................................................. ^
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death
without receiving adequate consideration? ............................................................................................... ^ ^X
3. Did decedent own an "intrust for" or payable upon death bank account or security at his or her death? ................. ^
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? .....~ ............................................................................................. ^ ^X
IF THE ANSWER TO ANY OF THE ABOVE Ql}F~1'IONS IS YES, YOU MUST COMPLETE SCHEDULE G A,ND FILE IT AS PART OF THE RETURN.
Under penalties of perjury, I declare that ave i d his ret ,including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct and complete,
Declaration of preparer other tha a son pr a tive i sed on all information of which preparer has any knowledge.
SIGNATURE OF PERSO 0 BL NG RETURN DAT
~ 7 oI
ADDRESS MURREL R. WALTERS, III
54 EAST MAIN STREET MECHANICSBURG PA 17055
SIGNATURE OF PREPARER OTHER THAN REPRESENTATIVE DATE
P,DDRESS
For dates of death on or after July 1, 1994 and before January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 3%
[72 P.S. §9116 (a) (1.1) (i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 0% [72 P.S. §9116 (a) (1.1) {ii)].
The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets antl filing a tax return are still applicable even if
the surviving spouse is the only beneficiary.
For dates of death on or after July 1, 2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an adoptive parent,
or a stepparent of the child is 0% [72 P.S. §9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's lineal beneficiaries is 4.5%, except as noted in 72 P.S. §9116(1.2) [72 P.S. §9116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is 12% [72 P.S. §9116(a)(1.3)]. Asibling is defined, under Section 9102, as an
individual who has at least one parent in common with the decedent, whether by blood or adoption.
REV-1508 EX + (6-98)
SCHEDULE E
COMMONWEALTH OF PENNSYLVANIA CASH, BANK DEPOSITS, 8c M~SIi.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
VERRECCHIO JOHN M. 21 08 00064
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. ORRSTOWN BANK 80,039.89
CERTIFICATE OF DEPOSIT
2. AMERICHOICE FEDERAL CREDIT UNION 50,284.34
CERTIFICATE OF DEPOSIT
3. AMERICHOICE FEDERAL CREDIT UNION 27.36
SAVINGS ACCOUNT
4. INTEGRITY BANK 36,055.66
CHECKING ACCOUNT
5. 2006 TOYOTA PRIUS AUTOMOBILE 15,415.00
6. STATE EMPLOYEES' RETIREMENT SYSTEM 944.75
RETIREMENT ACCOUNT
7. REFUND -AUTOMOBILE PAYOFF 8.88
CITIZENS AUTOMOBILE FINANCE
TOTAL (Also enter on line !~, Recapitulation) I $ 182 775.88
(If more space is needed, insert additional sheets of the same size)
REV-1511 EX + (12-99)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES 8~
ADMINISTRATIVE COSTS
ESTATE OF FILE NUMBER
VERRECCHIO JOHN M. 2'I 08 00064
Debts of decedent must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1. NEILL FUNERAL HOME, INC. 5,813.40
2. ROLLING GREEN CEMETERY 1,520.00
B. ADMINISTRATIVE COSTS:
~ • Personal Representative's Commissions
Name of Personal Representative (s) MURREL R. WALTERS, I11 -RENOUNCE[)
Social Securiiy Number(s)/EIN Number of Personal Representative(s)
Street Address
City State Zip _
Year(s) Commission Paid:
2 Attorney Fees MURREL R. WALTERS, 111, ESQ. 8,310.00
3, Family Exemption: (If decedent's address is not the same as claimant's, attach explanation)
Claimant
Street Address
City State Zip _
Relationship of Claimant to Decedent
4• Probate Fees REGISTER OF WILLS -CUMBERLAND COUNTY 325.00
5 Accountant's Fees
6. Tax Return Preparers Fees
7.
TOTAL (Also enter on line 9, Recapitulation) $ 15,968.40
(If more space is needed, insert additional sheets of the same size)
REV-1'512 EX + (6-98)
SCHEDULE 1
COMMONWEALTH OF PENNSYLVANIA DEBTS OF DECEDENT,
INHERITANCE TAX RETURN MORTGAGE LIABILITIES & LIENS
RESIDENT DECEDENT ~
ESTATE OF Fll_E NUMBER
VERRECCHIO JOHN M. 21 08 00064
Include unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. CITIZENS AUTOMOBILE FINANCE 9,884.09
AUTO LOAN PAYOFF
2. U.S. TREASURY 2,439.00
2007 INCOME TAX
3. PA DEPARTMENT OF REVENUE 510.00
2007 INCOME TAX
TOTAL (Also enter on line 10, Recapitulation) I $ 1
(If more space is needed, insert additional sheets of the same size)
REV-1513 EX + lo_nn~
SCHEDULE J
COMMONWEALTH OF PENNSYLVANIA BENEFICIARIES
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
VERRECCHIO. JOHN M ~~ nR nnnFd
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List 1"rustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. JEFFREY M. VERRECCHIO Lineal 25,858.65
3 DUBS CIRCLE
MECHANICSBURG, PA 17050
2. JOHN P. VERRECCHIO Lineal 25,858.65
107 E. CLEARVIEW DRIVE
CAMP HILL, PA 17011
3. SHAWN P. VERRECCHIO Lineal 25,858.65
91 MILLERS GAP ROAD
ENOLA, PA 17025
4. MARY B. VERRECCHIO Lineal 25,858.65
3 DUBS CIRCLE
MECHANICSBURG, PA 17050
5. MARGARET E. SETCHELL Collateral 50,539.79
115 HILL LANE
MECHANICSBURG, PA 17050
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 T HROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
II. NON-TAXABLE DISTRIBUTIONS:
1. A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1. B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
tlr more space Is needed, Insert additional sheets of the same size)