REV-1504 EX+ (10-15)

                         Instructions for REV-1504 Schedule C
                                           Closely-Held Corporation, Partnership or Sole-Proprietorship

                                           2.List of principal stockholders at the    interest. Complete a separate report
GENERAL INFORMATION                        date of death, number of shares held       for each interest in a closely-held
                                           and their relationship to the decedent.    corporation and/or partnership held
PURPOSE OF SCHEDULE                                                                   by a decedent.
                                           3.List of officers, their salaries, bonuses
Use Rev-1504 Schedule C to report all
                                           and any other benefits received from
business interests, including a sole-                                                 For sole-proprietorships, a supple-
                                           the corporation.                           mental schedule is not necessary.
proprietorship held by the decedent.
                                           4.Statement of dividends paid each         However, the estate must submit the
                                           year. List those declared and unpaid.      following information with the return:
FORM INSTRUCTIONS                          5.If the corporation owned real estate,    1.Detailed calculations used in the
ESTATE OF                                  submit a list showing the complete         valuation of the decedent’s propri-
Enter the complete name of the estate as   address(es) and estimated fair market      etorship interest.
shown on the REV-1500, Pennsylvania        value(s). If real estate appraisals have   2.Real property owned by the decedent
Inheritance Tax Return.                    been secured, attach copies.               and used by the proprietorship must
                                           6.Complete copies of financial state-      be reported on REV-1502, Schedule
FILE NUMBER                                ments or Federal Corporate Income          A. Identify such real property as used
Enter the file number of the estate        Tax returns (Form 1120) for the year       in the proprietorship.
assigned by the Register of Wills as       of death and four preceding years.         3.A breakdown of liquidation distri-
shown on the REV-1500, Pennsylvania        7.Any other information relating to the    butions, if the proprietorship was
Inheritance Tax Return.                    valuation of the decedent’s stock.         dissolved or liquidated after the
                                                                                      decedent’s death.
GENERAL INSTRUCTIONS                       The verification data which must be        4.Complete copies of financial state-
                                           submitted for partnership interests        ments or copies of the decedent’s
DESCRIPTION                                includes:                                  Federal Income Tax returns, including
Report a general description and the       1.Detailed calculations used in the val-   REV-1504, Schedule C and support-
value at date of death of the business     uation of the decedent’s partnership       ing schedules, for the year of death
interest.                                  interest.                                  and four preceding years. If financial
                                           2.Partnership information.                 statements are unavailable, include
Note.You must submit the appro-                                                       abalance sheet as of the date of
priate  supplemental  schedule             3.If the partnership owned real estate,
(REV-1505, Schedule C-1 or REV-1506,       submit a list showing the complete         death.
Schedule C-2) and all information relative address(es) and estimated fair market      TOTAL
                                           value(s). If real estate appraisals have
to establishing the true value of the                                                 Total all items in the Value at Date of
                                           been secured, attach copies.
decedent’s interest.                                                                  Death column and enter here.  Enter this
                                           4.Complete copies of financial state-      value on Line 3, Page 2 of the REV-1500.
The verification data which must be        ments or Federal Partnership Income
submitted for closely-held corporate       Tax returns (Form 1065) for the year       Caution.All jointly owned business
stock interests include:                   of death and four preceding years.         interests with the right of survivor-
1.Detailed calculations used in the        5.Any other information relating to the    ship must be reported on REV-1509,
valuation of the decedent’s stock.         valuation of the decedent’s partnership    Schedule F.

www.revenue.pa.gov                                                                                      REV-1504 1