HomeMy WebLinkAbout01-09-09 (2)15056041147
REV-1500 EX (06-05) OFFICIAL USE ONLY
PA Department of Revenue County Code Year File Number
Bureau of Individual Taxes INHERITANCE TAX RETURN
Po Box.2sosol RESIDENT DECEDENT 2 '1 0 8 0 4 51
Harrisburg, PA 17128-0601
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
714 18 1.511 04 10 2008 06 19 1923
Decedent's Last Name Suffix Decedent's First Name MI
RUSSELL JAMES A
(If Applicable) Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
Spouse's Social Security Number THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
1. Original Return ^ 2. Supplemental Return ^ ;;. Remainder Return (date of death
prior to 12-13-82)
4. Limited Estate qa. Future Interest Compromise ^ ii. Federal Estate Tax Return Required
^ ^ (date of death after 12-12-62)
8 Decedent Died Testate ~, Decedent Maintained a Living Trust 1 !3. Total Number o(Safe Deposit Boxes
(Attach Copy of Will) ^ (Attach Copy of Trust)
^ 9. Litigation Proceeds Received 1 p, Spousal Poverty Credit ((date of death ^ t 1.Election to tax under Sec. 9113(A)
^ between 12-31-91 and 1-1-95) (Attach Sch. O)
CORRESPONDENT -THIS SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
Name Daytime Telephone Number
WAYNE M PECHT 717 691 9809
Firm Name (If Applicable)
PECHT & ASSOCIATES, PC
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DATE FILED -.J
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First line of address
1205 MANOR DRIVE, SUITE 200
Second line of address
City or Post Office State ZIP Code
MECHANICSBURG PA 17055
Correspondent's e-mail address: W P@ C h t~ p e C h t I a W. C O m
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. Declaration of preparer other than the personal representative Is based on all information of which preparer has any knowledge.
Z ~~,~- =~Cn~~ George R. Boyer ~ Z j ~.~ ! ~,~
ADDRESS ~
10 Alessandro Drive, Ithaca, NY 14850
SIGN URE PR PARER HERT AN REPRESENTATIVE DATE
~~~~ Wayne M Pecht /,~ -2c~.-p~j
ADDRESS ~
1205 Manor Drive, Suite 200, Mechanicsburg, PA 17055
Side 1
1505604114? 15056041147 J
REV-1500 EX
15056042148
pecedenYsName: James A. Russell
RECAPITULATION
1. Real Estate (Schedule A) ........................................................................................... 1.
.................. 2.
2. Stocks and Bonds (Schedule B) ...............................................................
3. Closely Held Corporation, Partnership or Sole-Proprietorship (Schedule C) .............. 3.
4. Mortgages & Notes Receivable (Schedule D) ............................................................ 4.
5. Cash, Bank Deposits & Miscellaneous Personal Property (Schedule E) .................... 5.
6. Jointly Owned Property (Schedule F) ^ Separate Billing Requested .............. 6.
7. Inter-Vivos Transfers & Miscellaneous Non-PrSeparate Billring Requested .............. 7.
(Schedule G) ^
8. Total Gross Assets (total Lines 1-7) ........................................................................ S.
9. Funeral Expenses & Administrative Costs (Schedule H) ............................................ 9.
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) ................................... 10.
11. Total Deductions (total Lines 9 & 10) ....................................................................... 11.
12. Net Value of Estate (Line 8 minus Line 11) .............................................................. 12.
13, Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made (Schedule J) .................................................... 13.
14. Net Value Subject to Tax (Line 12 minus Line 13) ... ................................................ 14.
TAX COMPUTATION -SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate, of
transfers under Sec. 9116 Q 0 0 15.
(a)(1.2) X .00
16. Amount of Line 14 taxable 0 . 0 0 16.
at lineal rate X .045
17. Amount of Line 14 taxable 0 0 0 17.
at sibling rate X .12
1 S. Amount of Line 14 taxable 9 0 7 2 0 1. 6 8 18•
at collateral rate X .15
19.
19. Tax Due ..................................................................... ............................................... .
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT.
L 15056042148
Side 2
Decedent's Social Security Number
i'14 18 1511
152,492.00
31,622.59
779,865.62
963,980.21
56,474.51
304.02
56,778.53
907,201.68
907,201.68
0.00
0.00
0.00
136,080.25
136,080.25
15056042148 J
REV-1500 EX Page 3
Decedent's Complete Address:
DECEDENT'S NAME
James A. Russell
STREET ADDRESS
1418 Carlisle Road
File Number 21-08-0451
STATE: ur
CITY pq 17011
Camp Hill
Tax Payments and Credits: (1) 136,080.25
1. Tax Due (Page 1 Line 19)
2. Credits/Payments
A, Spousal Poverty Credit
g. Prior Payments 135,600.00
C. Discount 6,804.01
Total Credits (A + B + C) (2) 142,404.01
3. Interest/Penalty if applicable
p, Interest
E. Penalty
Total InterestlPenalty (D + E) (3)
6 323.76
4. If Line 2 is greater than Line 1 + Line 3, enter the difference. This is the OVERPAYMENT. (4)
Check box on Page 2 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. (5)
q. Enter the interest on the tax due. (5A)
g. Enter the total of Line 5 + 5A. This is the BALANCE DUE. (5B)
Make Check Payable to: REGISTER OF WILLS, AGENT
PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
Yes No
1. Did decedent make a transfer and:
............................................ x
a. retain the use or income of the property transferred :......................................... ^
b. retain the right to designate who shall use the property transferred or its income :.........................................
c. retain a reversionary interest; or .....................................................................................................................
d. receive the promise for life of either payments, benefits or care? .................................................................. ^
2. If death occurred after December 12, 1982, did decedent transfer property within one year of death without ^ ^
receiving adequate consideration? .........................................................................................................................
3. Did decedent own an "in trust for" or payable upon death bank account or security at his or her death? ............... ^ ^x
4. Did decedent own an Individual Retirement Account, annuity, or other non-probate property which
contains a beneficiary designation? ........................................................................................................................ ^
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
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.....................................................................
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 o
surviving spouse is three (3) percent [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 zero
(0) percent [72 P.S. §9116 (a) (1.1) (ii)]. The statute does not exemat a transfer to a surviving spouse from tax, and the statutory requirements
for disclosure of assets and 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 zero (0) percent [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 four and one-half (4.5) percent,
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 twelve (12) percent [72 P.S. §9116 (a) (1.3)]. A
sibling 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-1502 EX+ (6-98)
SCHEDULE A
REAL ESTATE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF (FILE NUMBER
Russell. James A. 1 21-08-0451
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real property which is jointlyowned with right of survivorship must be disclosed on schedule F.
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule A (Rev. 6-98)
(If more space is needed, additional pages of the same size)
Rev-1503 EX+ jli-98)
SCHEDULE B
STOCKS 8~ BONDS
COMMONWEALTH OF PENNSYLVANIA
INHERITPNCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Russell, James A. 21-08-0451
All property jointly-Owned with right of survivorship must be disclosed on Schedule 1-.
ITEM
NUMBER CUSIP
NUMBER
DESCRIPTION
UNIT VALUE VALUE AT DATE
OF DEATH
1 3,441 shares of 3,441 shares Sovereign Bankcorp, Inc. - 8.89 30,590.49
Per mean value of $8.89/share on April 10, 2008
calculated from Scottrade.coom and Marketwatch, Inc.
2 BNY Melon 10 shares of MetLife Stock at mean dod 618.30
value of $61.83
3 US Savings Bond Series EE Serial # L507776084 face 57.24
$50 issued 1/1993 -Valued per US Treasury redemption
calculator
4 US Savings Bond Series EE Serial # 815968017 face 356.56
$200 issued 6/1984 -Valued per US Treasury
redemption calculator
TOTAL (Also enter on Line 2, Recapitulation) 31,622.59
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule B (Rev. 6-98)
• Rev-1508 EX+ (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE E
CASH, BANK DEPOSITS, 8~ MISC.
PERSONAL PROPERTY
ESTATE OF FILE NUMBER
Russell, James A. 21-08-0451
Include the proceeds of litigation and the date the proceeds were received by the estate.
All propertyjointly~awned with the right of survivorship must be disclosed on schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1 George Washington Silver Dollars 150.00
2 Brenner Nissan refund and ESC cancellation -Per copy of check# 46714 dated 1,014.00
712108 from Brenner
3 Commerce Bank 50+ Checking Account # 513208652 -Per valuation letter from 6,158.01
Commerce Bank
4 Hartford Insurance -Refund of unearned premium 115.00
5 Household Furnishings -Proceeds from sale of furniture 800.00
6 Pennsylvania American Water -Refund for overpayment of water bill 5.50
7 Pennsylvania Department of Revenue -Refund of Personal Income Taxes 31.44
8 Pennsylvania State Bank CD # 9150003754 -Per valuation letter from bank 63,719.54
9 Pennsylvania State Bank Statement Savings Account #9150012061 -Per valuation 22,175.70
letter from bank
10 Scott's Lawn Service -Refund 204.20
11 Sovereign Bank CD # 0575434931 -Per DOD valuation letter from Sovereign Bank 41.826.48
12 Sovereign Bank Premier Checking Account # 2331027579 -Per DOD valuation letter 6,587.76
from Sovereign Bank
13 Sovereign Bank Savings Account # 0574176438 -Per DOD valuation letter from 10,388.55
Sovereign Bank
Total of Continuation Schedule See attached page
TOTAL (Also enter on Line 5, Recapitulation) 779,865.62
(If more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E (Rev. 6-98)
Rev-1508 EX+ (6-98)
COMMONWEALTH OF PENNSYLVANIA
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
r_ontinued
ESTATE OF (FILE NUMBER
Russell, James A. 21-08-0451
ITEM
NUMBER
DESCRIPTION VALUE AT DATE
OF DEATH
14 The Hartford pro-rata return of insurance -Per copy of check and check; statement 182.00
dated 7118108
15 US Stimulus Check 600.00
16 Wachovia CD Account # 247402112923173 -Per Withdrawal confirmation dated 195,973.49
5130108
17 Wachovia Crown Classic Banking Account # 1010160096820 -Per statement ending 9,242.69
4125/08
18 Wachovia Securities Account #4534-8485 -Per Account Summary ending 3131108 44,966.86
19 2008 Nissan 16,500.00
20 Classic Firearms -Check for 2 hunting rifles, a pistol and a WWII knife 410.00
21 Smith ~ Wesson TEF0499 300.00
22 AIG Annuity Policy # FJ245788 -Per statement ending March 31, 2008 93,581.92
23 M8~T Bank Retirement Account # 35004201002570 -Per valuation letter from bank 252,593.66
24 M8~T Bank Retirement Account # 35004201002588 -Per valuation letter from bank 12,338.82
TOTAL (Also enter on Line 5, Recapitulation) 779,865.62
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule E (Rev. 6-98)
REV-1151 EX+(12-99)
COMMN NERRAN EOTAX RETURNVANIA
RESIDENT DECEDENT
SCHEDULE H
FUNERAL EXPENSES 8~
ADMINISTRATIVE COSTS
ESTATE OF
Russell. James A.
FILE NUMBER
21-08-0451
Debts of decedent must be reported on Schedule I.
ITEM DESCRIPTION
NUMBER
q, FUNERAL EXPENSES:
See continuation schedule(s) attached
B. ADMINISTRATIVE COSTS:
1. Personal Representative's Commissions
George R. Boyer
Social Security Number(s) / EIN Number of Personal Representative(s):
Street Address 10 Alessandro Drive
City Ithaca state NY Zip 14850
Year(s) Commission paid 2009
AMOUNT
2,548.81
25,000.00
2. Attorney's Fees Pecht 8~ Associates, PC 25,000.00
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 Cumberland County Register of Wills 480.00
5. Accountant's Fees
6. Tax Return Preparer's Fees Pecht 8o Associates, PC 500.00
7. Other Administrative Costs 2,945.70
See continuation schedule(s) attached
TOTAL (Also enter on line 9, Recapitulation) 56,474.51
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H (Rev. 6-98)
Rev-1502 EX+(6-98) SCHEDULE H-A
FUNERAL EXPENSES
continued
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF (FILE NUMBER
Russell, James A. 21-08-0451
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-A (Rev. 6-98)
Rev-1502 EX+ (6-98)
COMMOMNEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
GFSIDFNT DECEDENT
SCHEDULE H-BT
OTHER
ADMINISTRATIVE COSTS
continued
ESTATE OF
Russell. James A.
FILE NUMBER
21-08-0451
ITEM DESCRIPTION
NUMBER
1 Cumberland County Register of Wills -Filing fees for Pa Inheritance Tax Return and
Inventory
2 Cumberland County Register of Wills -Family Settlement Agreement filing fee
3 Cumberland Law Journal -Estate Notice
4 Dennis Boyer Mechanical Services -Plumbing repairs for 1418 Carlisle Road
5 George Boyer -Reimbursement for travel expenses to and from New York to
administer estate documented per receipts
6 Montour Home Comfort Services -Service call and repair of air conditioning unit for
1418 Carlisle Road
7 Patriot News -Estate notice
8 Pennsylvania American Water -Water for 1418 Carlisle Road
9 Pennsylvania American Water -Water bill for 1418 Carlisle Road
10 Terminix -Exterior General Pest Control for 1418 Carlisle Road
11 Zimmerman's Landscape and Lawn Care -Lawn service for 1418 Carlisle Road
AMOUNT
30.00
20.00
75.00
85.00
1,500.00
128.48
304.41
45.14
20.97
68.90
667.80
Subtotal 2,945.70
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule H-67 (Rev. 6-98)
Rev-1512 EX+(6-98)
SCHEDULE 1
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES, 8~ LIENS
COMMONWEALTH OF PENNSYLVANIA
ESTATE OF
Russell. James A.
FILE NUMBER
21-08-0451
Include unreimbursed medical expenses.
ITEM DESCRIPTION
NUMBER
1 Commerce Bank -Safe Deposit Box fee outstanding
2 DISH Network -Television bill outstanding
3 Full Service Network -Telephone bill outstanding
4 Pennsylvania American Water -Water bill outstanding
5 PPL -Electric bill outstanding
VALUE AT DATE
OF DEATH
75.00
73.39
42.33
25.08
88.22
TOTAL (Also enter on Line 10, Recapitulation) I 304.02
(Ii more space is needed, additional pages of the same size)
Copyright (c) 2002 form software only The Lackner Group, Inc. Form PA-1500 Schedule I (Rev. 6-98)
REV-1513 EX+(9-00)
rnnnennAlUlF41 TN nF PFNNSVI. VANIA
SCHEDULE J
QcAlcclir`IARIFC
ESTATE OF
Russell, James A.
NAME AND ADDRESS OF
NUMBER PERSON(S) RECEIVING PROPERTY
I. TAXABLE DISTRIBUTIONS [include outright spousal
distributions, and transfers
under Sec. 9116(a)(t .2)i
1 George R Boyer
10 Allesandro Drive
Ithaca, NY 14850
2 Martha R Dean
P.O. Box 1137
20249 Hilltop Drive
Wimberley, TX 78676
3 Joanne C. Giehler
705 Haldeman Blvd
New Cumberland, PA 17070
4 Hildegard Russell
clo William L. Russell, Jr.
655 Northmoor Ave N
Saint Petersburg, FL 33702
5 William L Russell Jr
655 Northmoor Ave N
St. Petersburg, FL 33702
II.
FILE NUMBER
21-08-0451
RELATIONSHIP TO SHARE: OF ESTATE AMOL
DECEDENT (Words)
Do Not List Trustee(s)
Nephew
Niece
Sister-in-Law
Sister-in-Law
Nephew
Fifty per cent of
residual estate
Spelc:ific
Bequest
NT OF ESTATE
($$$)
416,100.84
Fifty per cent of
residual estate
Specific
Bequest
Specific
Bequest
Total
Enter dollar amounts for distributions shown above on lines 15 through 18, as appropriate, on Re:v 1500 cover sheet
NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TF~X IS NOT
BEING MADE
CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
25,000.00
416,100.84
25,000.00
25,000.00
907,201.68
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET ~ v.vu
• 2002 f ftware onl The Lackner Grou Inc Form PA-1500 Schedule J (Rev. 6-98)
.,~Nyl lyl Il ice) orm so y P.