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Pennsylvania House of Representatives
12/06/2024 04:00 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20190&cosponId=26595
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2019 - 2020 Regular Session

MEMORANDUM

Posted: December 3, 2018 12:34 PM
From: Representative Keith J. Greiner
To: All House members
Subject: Income Tax Reporting for Estates and Revocable Trusts
 
In the near future I intend to introduce legislation (former HB 2303) that would permit the executor or administrator of a decedent’s estate to elect to file a combined annual income tax return for an estate and revocable trust during the period the estate is open. Under federal law, the estate of a decedent who dies with a revocable trust in place can elect to file a single annual income tax return (Form 1041) that reports income earned by both entities (the estate and trust). Pennsylvania does not permit this practice so that a decedent’s estate and revocable trust are required to file separate income tax returns (Form PA 41) to report income earned by each during the year. The preparation and processing of two state income tax returns for each year the estate remains open is both inefficient and costly to the taxpayer and the Department of Revenue.

Please join me in co-sponsoring this bill.



Introduced as HB706


Memo Updated: December 3, 2018 12:35 PM