Iowa Administrative Code › Agency 701 - Revenue Department › Title X - Inheritance Tax › Chapter 900 - Inheritance Tax › Rule 701-900.7 - Life Estate, Remainder and Annuity Tables-in General

Current through Register Vol. 47, No. 3, July 24, 2024
For estates of decedents dying on or after July 4, 1965, and
				  prior to January 1, 1986, the value of a life estate in property, an annuity
				  for life and the value of a remainder interest in the property, shall be
				  computed by the use of the commissioners' standard ordinary mortality table at
				  the rate of 4 percent per annum.
(1)
Tables for life estates and remainders.
This subrule only
				applies to estates of decedents dying on or after July 4, 1965, and prior to
				January 1, 1986. The two factors on the same line on the next page added
				together equal 100 percent. Multiply the corpus of the estate by the first
				factor to obtain the value of the life estate. Use the second factor to obtain
				the value of the remainder interest in the corpus if the tax is to be paid
				within 12 months after the death of the decedent who created the life estate
				remainder. If the tax on the remainder is to be paid prior to the death of the
				life tenant, but after one year from the decedent's death, use the remainder
				factor opposite the age of the life tenant at the time the tax is to be paid.
Age of Life Tenant
Life Estate
Remainder
0
.90164
.09836
1
.89936
.10064
2
.89900
.10100
3
.89676
.10324
4
.89396
.10604
5
.89104
.10896
6
.88792
.11208
7
.88464
.11536
8
.88120
.11880
9
.87756
.12244
10
.87380
.12620
11
.86984
.13016
12
.86576
.13424
13
.86152
.13848
14
.85716
.14284
15
.85268
.14732
16
.84808
.15192
17
.84336
.15664
18
.83852
.16148
19
.83356
.16644
20
.82840
.17160
21
.82308
.17692
22
.81756
.18244
23
.81184
.18816
24
.80592
.19408
25
.79976
.20024
26
.79336
.20664
27
.78672
.21328
28
.77984
.22016
29
.77268
.22732
30
.76524
.23476
31
.75756
.24244
32
.74960
.25040
33
.74132
.25868
34
.73280
.26720
35
.72392
.27608
36
.71476
.28524
37
.70532
.29468
38
.69560
.30440
39
.68560
.31440
40
.67536
.32464
41
.66488
.33512
42
.65412
.34588
43
.64316
.35684
44
.63192
.36808
45
.62044
.37956
46
.60872
.39128
47
.59680
.40320
48
.58464
.41536
49
.57228
.42772
50
.55972
.44028
51
.54700
.45300
52
.53412
.46588
53
.52104
.47896
54
.50788
.49212
55
.49452
.50548
56
.48108
.51892
57
.46756
.53244
58
.45392
.54608
59
.44024
.55976
60
.42652
.57348
61
.41280
.58720
62
.39908
.60092
63
.38538
.61462
64
.37174
.62826
65
.35817
.64183
66
.34471
.65529
67
.33140
.66860
68
.31829
.68171
69
.30542
.69458
70
.29282
.70718
71
.28048
.71952
72
.26840
.73160
73
.25653
.74347
74
.24481
.75519
75
.23322
.76678
76
.22175
.77825
77
.21045
.78955
78
.19938
.80062
79
.18863
.81137
80
.17826
.82174
81
.16830
.83170
82
.15876
.84124
83
.14960
.85040
84
.14078
.85922
85
.13224
.86776
86
.12395
.87605
87
.11584
.88416
88
.10785
.89215
89
.09990
.90010
90
.09192
.90808
91
.08386
.91614
92
.07563
.92437
93
.06715
.93285
94
.05826
.94174
95
.04866
.95134
96
.03801
.96199
97
.02595
.97405
98
.01275
.98725
99
.00000
1.00000
(2)
Table for an annuity for life.
This subrule only applies to
				estates of decedents dying on or after July 4, 1965, and prior to January 1,
				1986. To find the present value of an annuity or a given amount (specified sum)
				for life, annualize the annuity payments and multiply the result by the annuity
				factor in Column 3 opposite the age at the nearest birthday of the person
				receiving the annuity.
Column 1
Column 2
Column 3
Age in Years
Life Expectancy in Years
4% Annuities $1.00
0
68.30
22.541
1
67.78
22.484
2
66.90
22.475
3
66.00
22.419
4
65.10
22.349
5
64.19
22.276
6
63.27
22.198
7
62.35
22.116
8
61.43
22.030
9
60.51
21.939
10
59.58
21.845
11
58.65
21.746
12
57.72
21.644
13
56.80
21.538
14
55.87
21.429
15
54.95
21.317
16
54.03
21.202
17
53.11
21.084
18
52.19
20.963
19
51.28
20.839
20
50.37
20.710
21
49.46
20.577
22
48.55
20.439
23
47.64
20.296
24
46.73
20.148
25
45.82
19.994
26
44.90
19.834
27
43.99
19.668
28
43.08
19.496
29
42.16
19.317
30
41.25
19.131
31
40.34
18.939
32
39.43
18.740
33
38.51
18.533
34
37.60
18.320
35
36.69
18.098
36
35.78
17.869
37
34.88
17.633
38
33.97
17.390
39
33.07
17.140
40
32.18
16.884
41
31.29
16.622
42
30.41
16.353
43
29.54
16.079
44
28.67
15.798
45
27.81
15.511
46
26.95
15.218
47
26.11
14.920
48
25.27
14.616
49
24.45
14.307
50
23.63
13.993
51
22.82
13.675
52
22.03
13.353
53
21.25
13.026
54
20.47
12.697
55
19.71
12.363
56
18.97
12.027
57
18.23
11.689
58
17.51
11.348
59
16.81
11.006
60
16.12
10.663
61
15.44
10.320
62
14.78
9.9770
63
14.14
9.6346
64
13.51
9.2935
65
12.90
8.9543
66
12.31
8.6178
67
11.73
8.2851
68
11.17
7.9572
69
10.64
7.6355
70
10.12
7.3204
71
9.63
7.0121
72
9.15
6.7101
73
8.69
6.4133
74
8.24
6.1203
75
7.81
5.8304
76
7.39
5.5437
77
6.98
5.2612
78
6.59
4.9845
79
6.21
4.7158
80
5.85
4.4566
81
5.51
4.2076
82
5.19
3.9689
83
4.89
3.7399
84
4.60
3.5194
85
4.32
3.3061
86
4.06
3.0988
87
3.80
2.8961
88
3.55
2.6963
89
3.31
2.4975
90
3.06
2.2981
91
2.82
2.0965
92
2.58
1.8907
93
2.33
1.6787
94
2.07
1.4564
95
1.80
1.2166
96
1.51
.9503
97
1.18
.6487
98
.83
.3189
99
.50
.0000
(3)
Annuity tables when the term is certain.
This table is to be
				used to compute the present values of two types of annuities:
(1) the use of property for a specific number
				of years and
(2) an annuity of a
				specific amount of money for a number of years certain. To compute the present
				value of the first annuity, multiply the value of property by 4 percent. Then
				multiply the result by the annuity factor opposite the number of years of the
				annuity. Multiply the value of the property by the remainder factor for the
				present value of the remainder. For the second annuity annualize the payments
				and multiply the result by the annuity factor opposite the number of years of
				the annuity. Subtract the present value of the annuity from the value of the
				property from which the annuity is funded for the remainder value.
Number of Years
Present Value of an Annuity of One
							 Dollar, Payable at the End of Each Year, for a Certain No. of Years
Present Value of One Dollar, Payable
							 at the End of a Certain Number of Years
ANNUITY
REMAINDER
1
$0.96154
$0.961538
2
1.88609
0.924556
3
2.77509
0.888996
4
3.62990
0.854804
5
4.45182
0.821927
6
5.24214
0.790315
7
6.00205
0.759918
8
6.73274
0.730690
9
7.43533
0.702587
10
8.11090
0.675564
11
8.76048
0.649581
12
9.38507
0.624597
13
9.98565
0.600574
14
10.56312
0.577475
15
11.11839
0.555265
16
$11.65230
$0.533908
17
12.16567
0.513373
18
12.65930
0.493628
19
13.13394
0.474642
20
13.59033
0.456387
21
14.02916
0.438834
22
14.45112
0.421955
23
14.85684
0.405726
24
15.24696
0.390121
25
15.62208
0.375117
26
15.98277
0.360689
27
16.32959
0.346817
28
16.66306
0.333477
29
16.98371
0.320651
30
17.29203
0.308319