Does Pennsylvania have personal exemptions?

Pennsylvania doesn’t offer a standard deduction or a deduction for personal exemptions—dollar amounts that you can claim for yourself, your spouse and your dependents. This makes the state’s allowed deductions, credits, and exclusions from income even more important.

What determines residency in Pennsylvania?

An individual is considered a resident rather than a part- year resident if that person was physically present in PA for at least 184 days (or parts of 184 days) and maintained a permanent place of abode in PA at any time during the tax year.

Does PA tax sale of personal residence?

Generally, the gain on the sale of a principal residence occurring on or after Jan. 1, 1998 is exempt from Pennsylvania personal income tax. Likewise, no loss may be taken because such a transaction is not entered into for profit or gain.

Can you write off property taxes in PA?

Property tax deduction: Any money you paid during the year you purchase and in the years afterward to local state, county and city property tax assessors is tax deductible. Any points you paid to obtain a lower interest rate are deductible. Private mortgage insurance payments are also deductible.

How do I avoid capital gains tax in PA?

To exclude the gain on the sale of your home from tax you must have owned and used the property as your principal residence for two of the five years immediately before the sale. The ownership and use need not be concurrent. You can generally claim the Section 121 tax exclusion only once every two years.

What are assets that are subject to probate in PA?

Assets subject to probate include all real estate and personal property owned solely by the decedent without designated beneficiaries. Pennsylvania requires the estate executor to submit an inventory of all of the decedent’s assets and their value at the time of death to the probate court.

Who is considered a resident or nonresident in Pennsylvania?

Resident and Nonresident Defined An individual is considered a Pennsylvania resident for personal income tax purposes if he or she either is domiciled in Pennsylvania, or is a statutory resident.

Who is eligible to inherit an estate in Pennsylvania?

Illegal immigrants and non-citizens are still eligible to be heirs under Pennsylvania law. This is applicable under both intestate succession and situations where there is a valid will. Handling the ins and outs of inheriting from the estate of a loved one or managing your own estate can include many complex elements to factor in.

Can a nonresident file tax return in Pennsylvania?

Nonresidents are taxed only on the income they receive from sources within Pennsylvania, and cannot qualify for the credit for taxes paid to other states. A Pennsylvania resident is either domiciled in Pennsylvania or domiciled in another state or country but qualifies as a statutory resident.

Resident and Nonresident Defined An individual is considered a Pennsylvania resident for personal income tax purposes if he or she either is domiciled in Pennsylvania, or is a statutory resident.

Who is subject to Pennsylvania personal income tax?

A part-year resident is subject to the Pennsylvania personal income tax as a resident for the portion of the year the individual was a resident of Pennsylvania. The same taxpayer is subject to the Pennsylvania personal income tax as a nonresident for the remaining portion of the year