Maryland Form 504 – Fill Out and Use This PDF

The Maryland 504 form is an essential fiduciary income tax return document for estates, trusts, and various other fiduciary entities for the fiscal year beginning in 2008. It requires detailed information about the entity, including the federal employer identification number, name and title of the fiduciary, and the type of entity being reported. For individuals responsible for managing these entities, accurately completing and submitting this form is crucial. Click the button below to ensure your form is filled out accurately.

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Maryland Form 504 PDF Details

Every year, trustees and executors overseeing estates and trusts in Maryland confront the task of navigating the complex landscape of fiduciary income tax through the Maryland 504 Form. This document, crucial for the proper reporting of income, deductions, and credits of estates and trusts, encompasses a wide array of fiscal information, beginning with basic identifiers—such as the federal employer identification number, the name of the estate or trust, as well as the name and address of the fiduciary—in addition to outlining the entity's type, be it a decedent’s estate, simple or complex trust, or others listed within its options. The form meticulously guides fiduciaries in calculating the federal taxable income allocated to the entity, adjusting for Maryland-specific modifications, and culminating in the determination of the Maryland taxable net income. Furthermore, it accounts for nonresident beneficiary deductions, ensuring that income is appropriately taxed according to the beneficiary's residence status. Special sections cater to credits for taxes paid to other states, contributions to various state funds, and the option for direct deposit of refunds, showing its comprehensive nature in addressing fiduciary tax obligations. Additionally, the 504 Form addresses amended returns and provides space for explanation of changes, signaling its adaptability to correct previously filed information. This form, therefore, stands as an essential tool for fiduciaries managing the fiscal responsibilities of estates and trusts in Maryland, offering a structured procedure for ensuring compliance with state tax laws.

Question	Answer
Form Name	Maryland Form 504
Form Length	3 pages
Fillable?	Yes
Fillable fields	103
Avg. time to fill out	21 min 25 sec
Other names	maryland form 504 instructions 2020, md form 504, maryland form 504 2020, maryland 504

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FORM	MARYLAND
504 FIDUCIARY INCOME TAX RETURN
	OR FISCAL YEAR BEGINNING	, 2008, ENDING

Federal employer identification number

Name of estate or trust

Name and title of fiduciary

Address of fiduciary (number and street)

City or town		State	Zip code

2008

TYPE OF ENTITY

1.☐ Decedent’s estate

2.☐ Simple trust

3.☐ Complex trust

▶4. ☐ Grantor type trust

5.☐ Bankruptcy estate

6.☐ Qualified funeral trust

7.☐ Other

DECEDENT’S ESTATE INFORMATION

If Decedent’s estate:

Date of death

Domicile of decedent

Decedent’s Social Security number

▶ ☐ Check here if final return

RESIDENT STATUS		AMENDED RETURN
Check box if resident	☐	Check applicable box(es)
and complete the following:
▶		This is an amended return	☐
Subdivision Code __________________________________		(Attach explanation)
County ________________________________________________
		Net operating loss is being	☐

City, town or		carried back
taxing area __________________________________________		Name or address	☐
Check box if nonresident:	☐
		has changed
See Form 504NR

Staple check here

21.	Federal taxable income of fiduciary (from line 22 of federal Form 1041) See Instruction 10														21
21.
22.	Exemption claimed on federal return														22
22.	Exemption claimed on federal return				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .				▶
23.	Line 21 plus line 22											▶		23
23.	Line 21 plus line 22	. . . . . . . . . . . . . . . . . .	. . . . . . . . . . . . . . .	. . . . . . .	. . . .	.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
24.	Fiduciary’s share of Maryland modifications (from page 2)												▶	24
24.	Fiduciary’s share of Maryland modifications (from page 2)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
25.	Line 23 plus or minus line 24 . . . .													25
25.	Line 23 plus or minus line 24 . . . .	. . . . . . . . . . . . . . . . . .	. . . . . . . . . . . . . . .	. . . . . . .	. . . .	.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .

26.	Nonresident beneficiary deduction (from line 12)												▶	26
26.	Nonresident beneficiary deduction (from line 12)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
27.	Maryland adjusted gross income (Subtract line 26 from line 25)													27
27.					.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
28.	Maryland exemption (See Instruction 11)													28
28.	Maryland exemption (See Instruction 11)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
29.	Maryland taxable net income of fiduciary (Subtract line 28 from line 27) (Nonresident fIduciary see instruction for Form 504NR). .													29
30.	Maryland tax (Use rate schedule in instructions or from line 21 of Form 504NR)													30
30.					. .0. .	.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
31.	Local or special nonresident tax	Multiply the taxable net income from line 29 by .			. .0. .
	(or from line 22 of Form 504NR) (See Instruction 15)													31
	(or from line 22 of Form 504NR) (See Instruction 15)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .


32.	Total Maryland and local tax (Add lines 30 and 31)													32
32.	Total Maryland and local tax (Add lines 30 and 31)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .

33.	Contribution to Chesapeake Bay and Endangered Species Fund												▶	33
33.	Contribution to Chesapeake Bay and Endangered Species Fund				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
34.	Contribution to Fair Campaign Financing Fund					.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .				▶	34
35.	Contribution to Maryland Cancer Fund												▶	35
35.	Contribution to Maryland Cancer Fund				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
36.	Total Maryland income tax, local income tax and contributions (Add lines 32 through 35)													36


37.	Maryland and local tax withheld (See Instruction 17)												▶	37
37.	Maryland and local tax withheld (See Instruction 17)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
38.	Estimated tax payments and payments made with extension request and with Form MW506NRS												▶	38
38.
39.	Credit for fiduciary income tax paid to another state (from line 20) and/or credit for preservation and conservation easements (See Instruction 17) .												▶	39
40.	Nonresident tax paid by pass-through entities. (Attach Schedule K-1 or other statement)												▶	40
40.
41.	Business and Heritage Structure Rehabilitation tax credits (Attach Form 500CR and Form 502H)												▶	41
41.
42.	Total payments and credits (Add lines 37 through 41)					.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .					42
43.	Balance due (If line 36 is more than line 42)												▶	43
43.	Balance due (If line 36 is more than line 42)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
44.	Overpayment (If line 36 is less than line 42)												▶	44
44.	Overpayment (If line 36 is less than line 42)				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
45.	Amount of overpayment to be applied to 2009 estimated tax												▶	45
45.	Amount of overpayment to be applied to 2009 estimated tax				.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
46.	Amount of overpayment to be refunded (Subtract line 45 from line 44) See line 49											Refund	▶	46
46.					. . . .	.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .
47.	Interest charges from Form 504UP		or for late filing									. . Total	▶	47
47.	Interest charges from Form 504UP		or for late filing						. . .	. . . .	. . . . . . . .	. . Total
48.	TOTAL AMOUNT DUE (Add lines 43 and 47)					.	. . . . . .		. . . . . . . . . . . . . . . . . . . . . .					48

DIRECT DEPOSIT OF REFUND (See Instruction 18) Please be sure the account information is correct.

49. To choose the direct deposit option, complete the following information: ▶ 49a. Type of account: ☐ Checking

☐ Savings

49b. Routing

49c.

Account

number ▶

Daytime telephone number

(Fiduciary)

Make checks payable to: COMPTROLLER OF MARYLAND.

▶

049

Write federal employer identification number on check using blue or black ink.

Mail to: Comptroller of Maryland, Revenue Administration Division,

CODE NUMBERS (3 digits per box)

Annapolis, Maryland 21411-0001

COM/RAD-021 08-49

Preparer’s SSN or PTIN

▶

FORM MARYLAND

504 FIDUCIARY INCOME TAX RETURN

2008

NAME ________________________________ FEIN ________________________

Page 2

FIDUCIARY’S SHARE OF MARYLAND MODIFICATIONS

(a)Do not complete lines 1 through 9 if the fiduciary distributes all of the income during the tax year. See Instructions. (b) Complete lines 1 through 8 and enter on line 24 if the fiduciary retains 100% of the income for the tax year. (c) Complete lines 1 through 9 if a partial distribution of income is made by the fiduciary during the tax year. Write a minus sign (-) in front of any negative numbers.

ADDITIONS
			1
1.	Interest on state and local obligations other than Maryland		. . . . . . . .
			2
2.	Income taxes deducted on federal return (not added back elsewhere)		. . . . . . . .
			3
3.	Other additions to income (Specify)	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. . . . . . . .
4.	Total additions (Add lines 1 through 3)		. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SUBTRACTIONS
			5
5.	Income from U.S. obligations	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
			6
6.	Other subtractions (Specify) (Do not include non-Maryland income)
7.	Total subtractions (Add lines 5 and 6)		. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.	Net Maryland modifications (subtract line 7 from line 4)
9.	Fiduciary’s share of net Maryland modifications. Divide the total distribution from federal Form 1041 by the distributable net
	income, expressing the answer in decimal form. Subtract the decimal from 1 and multiply the difference by line 8.
1 – (________________________ ÷ ________________________) = ________________________ (enter on line 9a)
	Total distribution	Distributable net income	Undistributed
	Line 11, Schedule B,	Line 7, Schedule B,	income factor
	federal Form 1041	federal Form 1041

________________________ x ________________________ = ________________________			(enter here and on line	9b
			(enter here and on line
Undistributed	Net Maryland modifications	Share of net modifications	9b and line 24)
income factor	Line 8 of this form

NONRESIDENT BENEFICIARY DEDUCTION

Complete this area only if any beneficiaries are nonresidents of Maryland, attach Form 504 Schedule K-1 for each beneficiary.

10. Income from intangible personal property accumulated for a nonresident (See Instruction 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

11. Related expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12. Nonresident beneficiary deduction (Subtract line 11 from line 10.) Enter on line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

CREDIT FOR TAXES PAID TO OTHER STATES
Complete this area if the fiduciary is a resident and is liable for income tax to another state. Attach a copy of the return filed with the other state.
		13
13.	Maryland net taxable income (from line 29)
		14
14.	Taxable net income of fiduciary in other state
		15
15.	Revised taxable net income (Subtract line 14 from line 13. If less than 0, write 0)
		16
16.	Maryland tax (from line 30)
		17
17.	Tax on amount on line 15 (Use rate schedule.)
18.	Tentative tax credit (subtract line 17 from line 16)	18
19.	State tax shown on return filed with the state of ______________________________	19
	(Attach copy of return filed with the other state.)
		20
20.	Credit for tax paid to the other state (Enter the lesser of line 18 or 19 here and on line 39)

AMENDED RETURNS

If you are filing an amended fiduciary income tax return, check the applicable boxes and draw a line through any barcodes on the front. Explain the changes you are making in the space below. Attach a copy of the amended federal Form 1041 if the federal return is being amended, and any other required documentation.

EXPLANATION OF CHANGES

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements and to the best	MAIL TO:	COMPTROLLER OF MARYLAND
of my knowledge and belief it is true, correct and complete. If prepared by a person other than taxpayer, the declaration is based on all		REVENUE ADMINISTRATION DIVISION
information of which the preparer has any knowledge. Check here ☐ if you authorize your preparer to discuss this return with us.		ANNAPOLIS, MARYLAND 21411-0001
Signature of preparer other than fiduciary		Date

Signature of fiduciary or officer representing fiduciary

Date

Address and telephone of preparer

COM/RAD-021 08-49

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Maryland Form 504 – Fill Out and Use This PDF

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