Do I owe taxes on distributions from charitable gift annuities?

If you established a gift annuity to a charitable organization from which you're receiving periodic payments, you need to enter the amount here as Pennsylvania taxable interest income.

You need to report the same charitable gift annuity income on your Pennsylvania return that you reported for federal income tax purposes, regardless of when you began reporting the income from that charitable gift annuity.

If a charitable gift annuity is exchanged or sold in the future, the Pennsylvania basis in the annuity will be different from the federal basis if payments began prior to January 1, 2005.

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