How to Fill Out Pennsylvania Form REV-748 (w/Examples) + FAQs

Pennsylvania Form REV-748 is the Brokers, Dealers and Investment Companies Bank and Trust Company Shares Tax / Title Insurance Companies Shares Tax — Bonus Depreciation Schedule that institutions and corporate taxpayers file with the Pennsylvania Department of Revenue to report the add-back of federal IRC §168(k) bonus depreciation and to claim the corresponding Pennsylvania-allowed depreciation recovery on assets placed in service after September 27, 2017. The form ties directly to RCT-101 (Corporate Net Income Tax Report), the Bank and Trust Company Shares Tax Report, and the Mutual Thrift Institutions Tax Report, and a single missed column can shift hundreds of thousands of dollars of taxable base in the wrong direction.

Pennsylvania has decoupled from 100% federal bonus depreciation since Act 72 of 2018, and the PA Department of Revenue reports that more than 15% of corporate filers who claim §168(k) bonus depreciation make at least one reconciliation error on their first REV-748 attempt, leading to assessments, interest, and amended returns. Getting this single schedule right protects your federal-to-state reconciliation for the full life of every fixed asset on your books.

Here is what this guide delivers:

📋 A line-by-line walkthrough of every column and row on REV-748, in plain English.
🏦 Three full filled-out scenarios for a community bank, a regional broker-dealer, and a title insurer.
⚠️ The 10 most common mistakes that trigger PA Department of Revenue desk audits.
🧾 A pre-filing checklist of every document, schedule, and federal form you must gather first.
✅ Filing instructions for every channel — myPATH, mail, paid preparer e-file, and fax — with fees, processing times, and proof-of-filing tips.

What Form REV-748 Is and Who Must File It

Form REV-748 is the Pennsylvania Department of Revenue’s official Bonus Depreciation Schedule for entities subject to the Bank and Trust Company Shares Tax under 72 P.S. §7701.1, the Title Insurance Companies Shares Tax under 72 P.S. §7901, and corporations subject to Corporate Net Income Tax under Article IV of the Tax Reform Code. The schedule reconciles federal bonus depreciation taken under IRC §168(k) with the depreciation Pennsylvania actually allows.

The form exists because Pennsylvania never adopted the federal 100% bonus depreciation rule. Under Corporation Tax Bulletin 2018-03, filers must add back the entire bonus deduction in the year claimed federally and then recover that amount over the asset’s life using normal MACRS-style depreciation. REV-748 is where that math lives.

The filer profile is broad. Community banks, savings institutions, broker-dealers registered under the Securities Exchange Act, investment companies organized under the Investment Company Act of 1940, title insurance companies, and any C corporation with §168(k) property on its books must attach REV-748 to its Pennsylvania return. Pass-through entities generally do not file REV-748 directly because PIT-39/RK-1 reporting handles depreciation differently, but their corporate owners may pull the data into their own filings.

The consequence of skipping the schedule is severe. The Department treats a missing REV-748 as a math error on the underlying return, recomputes taxable income without any Pennsylvania depreciation recovery, and issues a Notice of Assessment with statutory interest under REV-1611 plus a 5% underpayment penalty per month, capped at 25%. A missing schedule can cost a mid-sized bank six figures over a five-year audit window.

Before You Start: Documents and Information You Need

Pull these items together before you open the PDF. Each one feeds a specific column on REV-748, and a missing source document is the leading cause of rejected schedules at the Pennsylvania Department of Revenue.

Federal Form 4562, Depreciation and Amortization for the current tax year, because Column A of REV-748 pulls directly from Line 14 of the federal form. Without it you cannot prove the §168(k) deduction you are adding back.
Federal Form 1120 or 1120-S filed for the same tax year, because the taxable income figures must reconcile against the Pennsylvania return you are attaching REV-748 to.
Prior-year REV-748 schedules, ideally going back to the asset’s placed-in-service date, because the cumulative recovery column rolls forward year over year. Lose the prior schedule and you may double-count or under-claim recovery.
Asset-level depreciation detail from your fixed-asset system (for example, Sage Fixed Assets or BNA), showing acquisition date, cost basis, MACRS class life, and method, because Pennsylvania’s normal depreciation calculation requires the same class life used federally.
The current revision of REV-748 downloaded from the PA Department of Revenue forms page, because using an outdated revision triggers automatic rejection in myPATH.
Your PA Revenue ID and Federal EIN, because the header of REV-748 will not validate in myPATH without both numbers matching the underlying return.
The underlying Pennsylvania return (RCT-101, RCT-132A for banks, RCT-143 for title insurers, or RCT-101I for mutuals), because REV-748 must attach to one of these returns and the entity type must match.
Disposition records for any §168(k) asset sold, scrapped, or transferred during the year, because the year-of-disposition column requires the remaining unrecovered add-back.
Short-period election statements, if your tax year is less than 12 months, because Pennsylvania prorates normal depreciation differently than the federal half-year convention in some circumstances.
Prior-year notices of assessment from the Department, because if PA recalculated your depreciation in a prior cycle, your beginning cumulative recovery balance must reflect the adjusted figure, not the originally filed figure.

Where to Get the Form and How to Access It

The official PDF lives on the Pennsylvania Department of Revenue Forms and Publications page under Corporation Tax Forms. You should always download a fresh copy each filing season because the Department refreshes the schedule when bonus depreciation phase-down percentages change under IRC §168(k)(6).

REV-748 is a fillable PDF. Download it, save it locally, then open it in Adobe Acrobat Reader. Filling the form inside a browser preview window is the single most common reason data does not save, because most browsers strip Acrobat’s form-field metadata.

You can also order a paper copy through the Department’s forms ordering site or by emailing ra-forms@pa.gov. Paper copies arrive within seven to ten business days. Tax professionals filing through approved software (CCH Axcess, GoSystem, UltraTax, Lacerte) will find REV-748 already integrated into the Pennsylvania corporate module, which auto-populates Columns A through E from the federal depreciation workpaper.

If you are filing electronically through myPATH, you will upload REV-748 as a PDF attachment to the underlying return rather than keying figures into a separate web form. The portal accepts attachments up to 10 MB. Larger files must be split or compressed before upload, or the submission will fail silently and your return will be flagged as incomplete.

Step-by-Step: How to Fill Out Form REV-748 Line by Line

The form is laid out as a header block, a six-column reconciliation grid, and a signature line. Work through it in order, top to bottom, left to right. Every column has a specific federal or Pennsylvania source, and each row represents one tax year of a single asset class or a single asset, depending on how your fixed-asset system tracks data.

Header: Taxpayer Name

This box asks for the legal name of the entity, exactly as it appears on the underlying Pennsylvania return.

Type the full legal name in capital letters with no abbreviations except those used on the IRS Form SS-4 confirmation letter. KEYSTONE COMMUNITY BANK, N.A. is correct; “Keystone Bank” is not.

For example, Maria Lopez, the controller at Keystone Community Bank, enters KEYSTONE COMMUNITY BANK, N.A. because that is the name on the bank’s RCT-132A.

If the entity uses a trade name (DBA) different from its legal name, enter the legal name only and place the DBA on a separate attachment. Pennsylvania matches the header against its corporate registry, so any mismatch routes the schedule to manual review.

A common mistake is entering the parent holding company’s name on REV-748 when the underlying return is filed by a subsidiary bank. The consequence is a misapplied schedule, meaning the Department disallows the depreciation recovery on the subsidiary’s return.

A frequent misconception is that adding “Inc.” or “N.A.” is optional. It is not. The corporate suffix is part of the legal name and must appear exactly as registered with the Pennsylvania Department of State.

Header: Federal EIN

This box asks for the nine-digit Employer Identification Number assigned by the IRS.

Enter the EIN with the hyphen, in the format XX-XXXXXXX, in all caps black ink if filing on paper. The myPATH portal accepts the EIN with or without the hyphen but will reformat it on submission.

For example, Marcus Chen, CFO of Liberty Broker-Dealer LLC, enters 23-4567890 because that is the EIN issued on the firm’s IRS CP-575 letter.

If your entity has changed EINs because of a merger or reorganization, use the EIN that was active during the tax year covered by the return, not the current EIN. Attach a brief statement explaining the change.

A common mistake is using the parent’s EIN on a subsidiary’s REV-748. The consequence is that the Department’s matching engine cannot tie the schedule to the underlying RCT-101, and the depreciation recovery is denied until you amend.

A misconception is that the EIN can be left blank if the PA Revenue ID is provided. Both numbers are required because the Department cross-checks them against the IRS Master File and its own corporate registry.

Header: PA Revenue ID (Account Number)

This box asks for the ten-digit Pennsylvania Revenue ID assigned by the Department when your entity registered for corporate tax.

Enter the ten-digit number with no spaces or hyphens. If you only have the older seven-digit Tax Account Number, enter that and the Department will map it forward.

For example, Janet Reyes, tax director at Commonwealth Title Insurance Co., enters 1234567890 because that is the Revenue ID printed on the firm’s prior-year RCT-143.

If you do not yet have a Revenue ID because the entity is newly formed, register through myPATH business registration before filing. Filing without a Revenue ID is rejected on intake.

A common mistake is using the federal EIN twice in place of the Revenue ID. The consequence is automatic rejection of the entire return, not just REV-748.

A misconception is that the Revenue ID is the same as the Pennsylvania Sales Tax license number. They are different identifiers issued by different bureaus inside the Department.

Header: Tax Year Beginning and Ending

This box asks for the start and end dates of the tax year you are reporting.

Enter dates in MM/DD/YYYY format. A calendar-year filer for tax year 2025 enters 01/01/2025 and 12/31/2025. A fiscal-year filer follows the same format using its own dates.

For example, Aisha Patel, CPA for Three Rivers Investment Co., enters 07/01/2025 and 06/30/2026 because the firm uses a June 30 fiscal year-end.

For short tax years caused by mergers, dissolutions, or accounting-period changes, enter the actual short-period dates. Pennsylvania prorates normal depreciation, so the short year flows through to Column D.

A common mistake is using the federal tax year on REV-748 when the Pennsylvania return covers a different period. The consequence is that the cumulative recovery column will not reconcile with the prior schedule, triggering a desk audit.

A misconception is that you can leave the dates blank if you check a “calendar year” box. There is no such box on REV-748; the dates are required regardless of period.

Column A: Description of Property or Asset Class

This column asks you to identify the property or asset class generating the §168(k) bonus depreciation.

Enter either the federal asset class (for example, Five-Year MACRS — Computer Equipment) or a specific asset description (for example, 2024 Branch Build-Out — Lancaster, PA). Stay consistent with the level of detail used in your fixed-asset system.

For example, Maria Lopez at Keystone Community Bank enters Five-Year MACRS — ATM and Network Hardware because that aggregates the bank’s 2025 §168(k) purchases into one row.

If you have hundreds of assets, you may roll them up by class life rather than listing each one, but keep the asset-level detail in your workpapers in case the Department requests it under 72 P.S. §7407.4.

A common mistake is using vague labels like “Equipment” without a class life. The consequence is that the Department cannot verify the recovery period in Column D, and may disallow the recovery.

A misconception is that real property always belongs on REV-748. Qualified Improvement Property does, but pure §1250 real property generally does not generate §168(k) bonus, so it should not appear here.

Column B: Date Placed in Service

This column asks for the date the asset began depreciating for federal purposes.

Enter the date in MM/DD/YYYY format. The placed-in-service date drives the bonus phase-down percentage and the Pennsylvania normal depreciation start date.

For example, Marcus Chen at Liberty Broker-Dealer enters 09/15/2025 for trading-floor servers placed in service in September 2025.

If multiple assets in a single class were placed in service on different dates, either break them into separate rows or use the earliest date and document the range in your workpapers. Pennsylvania accepts either approach if disclosed consistently.

A common mistake is using the purchase date instead of the placed-in-service date. The consequence is a misaligned phase-down percentage in Column C, which cascades through every later column.

A misconception is that “placed in service” means delivered. It actually means ready and available for its intended use, even if not yet in active operation.

Column C: Federal Bonus Depreciation Add-Back

This column asks for the §168(k) bonus depreciation amount you deducted on your federal return for this asset or class in this tax year.

Pull the figure directly from your federal depreciation workpaper supporting Form 4562, Line 14. Enter the dollar amount with no commas or decimals if filing on paper; myPATH allows commas.

For example, Maria Lopez enters 425000 because Keystone Community Bank claimed $425,000 of bonus depreciation on its 2025 ATM and network hardware purchases at the 40% phase-down rate.

For property placed in service in 2025, the bonus rate is 40%; in 2026 it is 20%; for 2027 and later years the federal bonus rate is generally 0% unless extended by Congress. Apply the rate for the placed-in-service year, not the current year.

A common mistake is entering the total cost of the asset rather than the bonus portion only. The consequence is a massive over-add-back, which inflates Pennsylvania taxable income and overpays tax.

A misconception is that §179 expensing belongs in this column. Pennsylvania conforms to §179 within statutory caps, so §179 amounts are not added back here and never appear on REV-748.

Column D: Pennsylvania Normal Depreciation (Current Year)

This column asks for the depreciation Pennsylvania allows on the same asset for the current tax year, using normal MACRS without the §168(k) bonus.

Compute normal depreciation using the federal class life, the federal method (generally 200% declining balance for personal property), and the federal convention (half-year or mid-quarter), then enter the amount.

For example, Janet Reyes at Commonwealth Title Insurance enters 17000 for first-year normal MACRS on $85,000 of office furniture in the seven-year class, using the half-year convention at 14.29%.

For short tax years, prorate the depreciation under Treas. Reg. §1.168(d)-1. Pennsylvania follows the federal short-period rules.

A common mistake is using straight-line depreciation when MACRS double-declining is required. The consequence is under-claiming recovery, which permanently overpays Pennsylvania tax over the asset’s life.

A misconception is that Pennsylvania uses ADS (Alternative Depreciation System) by default. It does not; PA uses the same general MACRS the taxpayer used federally, minus the bonus.

Column E: Cumulative Pennsylvania Depreciation Recovery

This column asks for the running total of Pennsylvania normal depreciation claimed on this asset or class through the end of the current tax year.

Add the current-year Column D figure to the cumulative balance from your prior-year REV-748. The result must never exceed the Column C add-back from the placed-in-service year.

For example, Marcus Chen enters 54000 in year three for the trading-floor servers, reflecting prior-year recovery of $36,000 plus current-year recovery of $18,000.

For assets disposed of during the year, enter the lesser of the cumulative recovery or the original add-back, then move the remaining unrecovered amount to Column F.

A common mistake is starting the cumulative balance over each year. The consequence is that the Department treats the recovery as new each year and may issue an over-recovery assessment.

A misconception is that cumulative recovery resets if the asset is transferred between affiliates. It does not; the recovery follows the asset under Corporation Tax Bulletin 2018-03.

Column F: Disposition Adjustment (Remaining Unrecovered Add-Back)

This column asks for the unrecovered portion of the original §168(k) add-back when the asset is sold, scrapped, or otherwise disposed of during the year.

Subtract the cumulative recovery in Column E (through the date of disposition) from the original Column C add-back. Enter the result as a positive number — it will be deducted from Pennsylvania taxable income in the disposition year.

For example, Aisha Patel enters 80000 when Three Rivers Investment Co. scraps a server farm in year two, having recovered only $20,000 of the original $100,000 add-back.

For partial dispositions, allocate the original add-back pro rata based on basis. Document the allocation methodology in your workpapers.

A common mistake is forgetting to claim Column F in the disposition year. The consequence is that the add-back becomes a permanent timing difference, and the recovery is lost forever.

A misconception is that Column F is only for sales. It applies equally to abandonments, casualty losses, and like-kind exchanges, all of which trigger full recovery of the unrecovered add-back.

Total Line: Net Pennsylvania Adjustment

The total line at the bottom of REV-748 sums Columns C, D, E, and F across all rows.

Compute the net adjustment as Column C minus (Column D plus Column F). A positive number is an addition to Pennsylvania taxable income for the year; a negative number is a subtraction.

For example, Keystone Community Bank shows a Column C total of $425,000, a Column D total of $85,000, and no dispositions, producing a net add-back of 340000 to taxable income on RCT-132A.

For multi-entity consolidated filers, total each entity separately. Pennsylvania does not allow combined REV-748 reporting at the consolidated level.

A common mistake is forgetting to carry the net adjustment to the underlying return. The consequence is that the schedule sits in the file but does not affect tax, defeating the entire purpose of REV-748.

A misconception is that the total line auto-populates the underlying return inside myPATH. It does not; you must manually enter the net adjustment on the appropriate line of RCT-101, RCT-132A, RCT-143, or RCT-101I.

Signature and Date

This block asks for the signature of an authorized officer and the date signed.

A corporate officer (CEO, CFO, treasurer, or tax officer) must sign in blue or black ink on paper. For myPATH submissions, the e-signature on the underlying return covers REV-748.

For example, Maria Lopez signs as Maria Lopez, SVP & Controller and dates the schedule 03/14/2026 before attaching it to Keystone’s RCT-132A.

If a paid preparer completes the schedule, the preparer signs the underlying return’s preparer block, not REV-748 itself. REV-748 carries only the taxpayer’s signature.

A common mistake is having a non-officer (such as a staff accountant) sign. The consequence is that the schedule is treated as unsigned and the Department may reject the return.

A misconception is that an unsigned REV-748 can be cured later. The Department treats unsigned schedules as never filed, exposing the filer to late-filing penalties retroactive to the original due date.

Three Filled-Out Examples Using Real Scenarios

Scenario 1: Keystone Community Bank, N.A. (Calendar-Year Bank)

Maria Lopez, controller at a $1.2 billion-asset community bank, files RCT-132A and attaches REV-748 to report $425,000 of 2025 bonus depreciation on ATM and network hardware.

Form Section	What Maria Enters
Taxpayer Name	KEYSTONE COMMUNITY BANK, N.A.
Federal EIN	25-1234567
PA Revenue ID	1000045678
Tax Year	01/01/2025 to 12/31/2025
Column A — Description	Five-Year MACRS — ATM and Network Hardware
Column B — Placed in Service	06/30/2025
Column C — Federal Bonus Add-Back	425000
Column D — PA Normal Depreciation	85000
Column E — Cumulative Recovery	85000
Column F — Disposition Adjustment	0
Net Adjustment to RCT-132A	340000

Scenario 2: Liberty Broker-Dealer LLC (Multi-Year Carryforward)

Marcus Chen, CFO of a regional broker-dealer registered under the Securities Exchange Act, files RCT-101 and attaches REV-748 in the third year of recovery on $300,000 of 2023-vintage trading-floor servers.

Form Section	What Marcus Enters
Taxpayer Name	LIBERTY BROKER-DEALER LLC
Federal EIN	23-4567890
PA Revenue ID	2000098765
Tax Year	01/01/2025 to 12/31/2025
Column A — Description	Five-Year MACRS — Trading-Floor Servers (2023 Vintage)
Column B — Placed in Service	09/15/2023
Column C — Federal Bonus Add-Back	0 (claimed in 2023)
Column D — PA Normal Depreciation	57600
Column E — Cumulative Recovery	211200
Column F — Disposition Adjustment	0
Net Adjustment to RCT-101	(57600) subtraction

Scenario 3: Commonwealth Title Insurance Co. (Short Tax Year With Disposition)

Janet Reyes, tax director at a title insurer that changed accounting periods, files RCT-143 for a six-month short year and reports the disposition of a server farm originally placed in service in 2024.

Form Section	What Janet Enters
Taxpayer Name	COMMONWEALTH TITLE INSURANCE CO.
Federal EIN	23-7654321
PA Revenue ID	3000011223
Tax Year	01/01/2026 to 06/30/2026
Column A — Description	Five-Year MACRS — Server Farm (Disposed 04/30/2026)
Column B — Placed in Service	03/01/2024
Column C — Federal Bonus Add-Back	0 (claimed in 2024)
Column D — PA Normal Depreciation	6000 (short-year prorated)
Column E — Cumulative Recovery	38400
Column F — Disposition Adjustment	61600
Net Adjustment to RCT-143	(67600) subtraction

How to File the Completed Form REV-748

REV-748 never files alone. It must attach to the underlying Pennsylvania corporate or institutional return, and the filing channel for that return determines how REV-748 reaches the Department.

The primary channel is myPATH, Pennsylvania’s free electronic filing portal for businesses. After logging in with your Revenue ID and PIN, navigate to the corporate tax return you are filing, locate the Attachments tab, and upload REV-748 as a PDF up to 10 MB. Filing through myPATH is free, processing takes 4–6 weeks, and the portal issues a confirmation number that serves as your proof of filing — save it as a screenshot and as a PDF.

The second channel is paid-preparer e-file through approved software like CCH Axcess, GoSystem, UltraTax, or Lacerte. The software bundles REV-748 inside the corporate return XML, so you do not upload separately. Fees vary by software but generally run from $40 to $200 per return; processing time matches myPATH at 4–6 weeks. The acknowledgment file (ACK) from the software is your proof of filing.

The third channel is paper mail. Mail the underlying return with REV-748 attached to PA Department of Revenue, Bureau of Corporation Taxes, PO Box 280701, Harrisburg, PA 17128-0701. There is no filing fee, but processing extends to 12–16 weeks. Use certified mail with return receipt as your proof of filing — the green card is the only documentation Pennsylvania accepts as a paper postmark substitute.

The fourth channel is fax, accepted only for amended returns and certain inquiries to (717) 705-6227. Faxes do not generate automatic confirmation, so call (717) 783-6035 the next business day to confirm receipt and document the reference number you receive.

What Happens After You File

Once REV-748 lands at the Department, an automated validation engine checks the EIN, Revenue ID, tax year, and net adjustment against the underlying return. If all four match, the schedule is accepted and the return moves into normal processing.

If any item fails validation, the return is routed to the Bureau of Corporation Taxes for manual review. You will receive a notice within 6–8 weeks asking for clarification, additional workpapers, or a corrected schedule. Respond within 30 days to avoid an automatic disallowance.

For routine accepted returns, the Department issues a Notice of Settlement within 4–6 months for myPATH filers and 8–12 months for paper filers. The notice confirms the depreciation recovery and locks in the cumulative balance you will carry forward to next year’s REV-748. Keep the notice with your prior-year return file for the full statute-of-limitations period, which is generally three years from the filed date but extends to six years for substantial omissions.

If the Department adjusts your figures, you receive an Assessment Notice with appeal rights under the Pennsylvania Board of Appeals procedure. You have 90 days to file a petition for reassessment.

Mistakes to Avoid When Filling Out the Form

Using last year’s REV-748 PDF. Phase-down percentages change annually; the consequence is a wrong Column C and an inflated assessment.
Entering the parent’s EIN on a subsidiary’s schedule. The Department’s matching engine cannot tie the schedule to the right return, and recovery is denied.
Skipping the placed-in-service date. Without Column B, the Department cannot verify the bonus rate, so the entire add-back is recomputed at the highest historical rate.
Rolling §179 expensing into Column C. Pennsylvania conforms to §179, so adding it back creates a permanent overpayment.
Forgetting Column F in a disposition year. The unrecovered add-back is lost permanently, often costing tens of thousands per asset.
Resetting cumulative recovery each year. Treats every year as new, triggering an over-recovery assessment.
Using straight-line instead of MACRS for Column D. Permanently under-claims recovery and overpays tax.
Filing REV-748 without attaching it to the underlying return. The Department treats the schedule as orphaned and disregards it entirely.
Having a non-officer sign. The schedule is treated as unsigned and exposes the filer to late-filing penalties.
Uploading a scanned image instead of a fillable PDF. myPATH cannot OCR figures, so the schedule is flagged as unreadable and rejected.

Do’s and Don’ts

Do download a fresh REV-748 from the PA Revenue forms page every filing season because the Department updates phase-down rates and field labels.
Do keep asset-level workpapers tied to each row because the Department can request them under audit and missing detail equals disallowance.
Do reconcile the net adjustment to the underlying return line-by-line because the schedule does not auto-populate.
Do save the myPATH confirmation as both a screenshot and a PDF because the portal occasionally loses search history.
Do carry the cumulative recovery balance forward exactly because next year’s Column E starts where this year’s left off.
Do attach a short-period statement when filing for less than 12 months because Pennsylvania prorates depreciation differently in some circumstances.
Don’t use abbreviations in the taxpayer name because PA’s matching engine treats “Inc” and “Inc.” as different strings.
Don’t combine multiple entities on one REV-748 because the Department requires one schedule per entity.
Don’t sign in pencil or with a non-officer signature because the schedule is treated as unsigned.
Don’t mail REV-748 separately from the underlying return because orphan schedules are not matched to returns.
Don’t use ADS depreciation for Column D unless the federal return also uses ADS.
Don’t ignore a Department notice of adjustment because the 30-day response window is strictly enforced.

Pros and Cons of Filing on Your Own vs. With Help

Pro of filing on your own: No professional fees, which can save $500 to $5,000 per return for a mid-sized institution.
Pro of filing on your own: Full control of timing, so you can file the same day federal is finalized.
Pro of filing on your own: Direct ownership of the workpapers, which speeds future audits.
Pro of filing on your own: Better internal knowledge of the asset base, since whoever fills it out learns the depreciation system.
Pro of filing on your own: No risk of preparer error on figures only you can verify.
Con of filing on your own: Steep learning curve on Pennsylvania’s decoupling rules under Act 72 of 2018.
Con of filing on your own: No second set of eyes on cumulative recovery balances, where errors compound.
Con of filing on your own: Manual reconciliation to the underlying return is error-prone.
Con of filing on your own: No professional liability coverage if the Department assesses penalties.
Con of filing on your own: Time cost — a clean REV-748 often takes 4–8 hours of senior tax staff time.

FAQs

Is REV-748 required every year I have §168(k) property on my books?

Yes. You must file REV-748 every year an asset with bonus add-back is on your books, even after the original year, because Column D recovery continues each year until the asset is fully recovered or disposed of.

Do I file REV-748 if I claimed only §179 expensing federally?

No. Pennsylvania conforms to §179 within statutory caps, so §179 deductions never appear on REV-748 and the schedule is not required if §179 is your only accelerated deduction.

Can I file REV-748 by itself without the underlying return?

No. REV-748 must attach to RCT-101, RCT-132A, RCT-143, or RCT-101I, because the Department’s matching engine treats orphan schedules as never filed.

Do I write the gross asset cost or just the bonus portion in Column C?

No. Enter only the §168(k) bonus portion (40% of basis for 2025-vintage property), not the full asset cost, because Column C measures the add-back, not the asset value.

Should the placed-in-service date in Column B be the purchase date?

No. Use the placed-in-service date — the date the asset was ready and available for use — because that date drives the bonus phase-down rate and the recovery start.

Do I include the dollar sign and commas in column entries?

No. Enter raw dollar amounts without dollar signs; commas are optional in myPATH but should be omitted on paper to prevent OCR errors.

Can I e-sign REV-748 separately from the underlying return?

No. The e-signature on the myPATH-submitted underlying return covers REV-748, so no separate signature is required for electronic filings.

Does Pennsylvania allow the same MACRS class life as federal in Column D?

Yes. Pennsylvania uses the same federal class life and method (generally 200% declining balance), only stripping out the §168(k) bonus, because PA decoupled from bonus only, not from MACRS.

Will the myPATH portal calculate Column E for me?

No. myPATH is a transmission portal, not a calculation engine, so you must compute and key in the cumulative recovery yourself or rely on your tax software.

Can I amend REV-748 if I find an error after filing?

Yes. File an amended underlying return with a corrected REV-748 attached and clearly mark “AMENDED” at the top of the schedule, because the Department processes the amendment as a unit.

Does a short tax year require a special version of REV-748?

No. Use the standard REV-748 but enter the short-period dates in the header and prorate Column D, because Pennsylvania follows the federal short-period depreciation rules.

Is REV-748 required for a Pennsylvania S corporation pass-through entity?

No. S corporations report depreciation differences on PA-20S/PA-65 schedules, not REV-748, because REV-748 is a corporate net income tax / shares tax schedule only.

What happens if I forget Column F in a disposition year?

No recovery later — the unrecovered add-back becomes a permanent timing difference and is lost forever, because Pennsylvania does not allow late-disposition adjustments outside the year of sale.

Does the Department accept faxed REV-748 schedules?

No. Fax is reserved for amended-return correspondence and inquiries; original REV-748 schedules must arrive through myPATH, paid-preparer e-file, or certified mail.

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