Instructions for Form REV-1514 Schedule K Life Estate, Annuity & Term Certain - Pennsylvania

Instructions for Form REV-1514 Schedule K Life Estate, Annuity & Term Certain - Pennsylvania

This document contains official instructions for Form REV-1514 Schedule K, Life Estate, Annuity & Term Certain - a form released and collected by the Pennsylvania Department of Revenue. An up-to-date fillable Form REV-1514 Schedule K is available for download through this link.

FAQ

Q: What is Form REV-1514 Schedule K?
A: Form REV-1514 Schedule K is a tax form used in Pennsylvania to report income from life estate, annuity, and term certain arrangements.

Q: What is a life estate?
A: A life estate is a legal arrangement in which someone has the right to use or live in a property for the duration of their lifetime.

Q: What is an annuity?
A: An annuity is a financial product that provides a series of regular payments in exchange for an initial lump sum of money.

Q: What is term certain?
A: Term certain refers to an arrangement where a fixed amount is paid for a specified period of time, regardless of whether the annuitant is alive or not.

Q: Who needs to file Form REV-1514 Schedule K?
A: Anyone who has income from a life estate, annuity, or term certain arrangement in Pennsylvania needs to file this form.

Q: When is Form REV-1514 Schedule K due?
A: The due date for filing Form REV-1514 Schedule K is usually the same as the due date for your Pennsylvania state income tax return, which is April 15th.

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Instruction Details:

  • This 1-page document is available for download in PDF;
  • Actual and applicable for the current year;
  • Complete, printable, and free.

Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the Pennsylvania Department of Revenue.

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