REV-414 (F): 2024 Estates and Trusts Worksheet for Estimated Tax (REV-414 (F)) (2024)
Pennsylvania · Pennsylvania DOR · Used for tax years 2024
Pennsylvania Form REV-414 (F) is a worksheet for calculating an estate’s or trust’s 2024 estimated tax using estimated income, distribution deductions, credits and withholding. It also includes sections for revising estimated tax during the year and recording payments and credits
Who files this form
REV-414 (F) is the 2024 estimated tax worksheet for estates and trusts. The form says to keep it for your records.
If Line 14 is less than $292, the estate or trust generally does not have to make estimated tax payments. However, underpayment penalties may still apply if its actual 2024 tax liability after payments and credits is more than $292.
The department does not require a 2024 estimated form until an estimated Pennsylvania personal income tax installment payment must be made on behalf of the estate or trust.
What you'll need
Have the information needed for the worksheet ready:
- Estimated 2024 income and distribution deductions.
- Estimated tax withheld, including nonresident withholding if applicable.
- Estimated resident credit for income tax paid to other states and 2024 PA Schedule OC credits.
- Safe harbor method income and estimated tax liability.
- Any 2023 PA-41 overpayment credit applied to 2024.
- Dates and amounts of estimated tax payments already made.
The form directs you to the REV-413 (F) instructions for help completing the worksheet.
How to file
Keep this worksheet for your records. The form does not provide mail or e-file submission instructions for the worksheet.
The address printed on the form is:
PO BOX 281210
HARRISBURG PA 17128-1210
For help completing the form, refer to the REV-413 (F) instructions, visit revenue.pa.gov, or call the Customer Experience Center at 717-787-8201 between 8:00 AM and 5:00 PM.
Common mistakes
- Assuming a Line 14 amount below $292 rules out penalties. The form warns that underpayment penalties may still apply if actual 2024 tax liability after payments and credits is more than $292.
- Not responding to increased income. If the estate or trust has unexpected income, or income grows above $9,500 with no payments or credits scheduled for the tax year, the form says to immediately file an amended declaration and make estimated payments accordingly.
- Overlooking the 2023 credit. The department applies the credit from the 2023 PA-41 as of that return’s due date. If the credit is greater than the first 2024 installment payment, the first estimated form is not necessary.
Questions people ask
How do I calculate estimated taxable income and tax?
Subtract estimated distribution deductions on Line 2 from estimated income on Line 1. Enter the result on Line 3, then multiply it by 3.07% (0.0307) for Line 4.
How do I calculate the required annual estimated tax?
Add Lines 5 through 8 to get total estimated credits on Line 9. Subtract Line 9 from Line 4 to get Line 10, then enter 90% of Line 10 on Line 11. Line 14 is the smaller of Line 11 or the safe harbor method estimated tax liability on Line 13.
What if the estimated tax changes during 2024?
Use Section II, the 2024 Amended PA Estimated Tax Schedule. It includes entries for amended estimated tax, the 2023 overpayment applied to 2024, payments to date, and the unpaid balance.
Where can I track estimated payments?
Use Section III, the 2024 Record of Estimated Tax Payments. It has spaces for payment dates, amounts, 2023 overpayment credits applied, and total amounts paid and credited.