Form 504: Maryland Fiduciary Income Tax Return

Write the MM/DD of the fiscal year in the boxes next to OR FISCAL YEAR BEGINNING 2025, ENDING.

Enter the Federal Employer Identification Number (9 digits), the Name of Estate or Trust, and the Name and Title of Fiduciary.

Print using blue or black ink only, and staple.

Enter the Current Mailing Address of Fiduciary: Line 1 (Street No. and Street Name or PO Box), Line 2 (Apt No., Suite No., Floor No.), City or Town, State, ZIP Code +4, and for a foreign address the Country Name, Foreign Province/State/County, and Foreign postal code.

TYPE OF ENTITY - Check the box(es) on the return corresponding to your federal return: 1. Decedent's estate, 2. Simple trust, 3. Complex trust, 4. Grantor type trust, 5. Bankruptcy estate, 6. Qualified funeral trust, 7. Electing Small Business Trust, 8. Other.

If Decedent's estate: enter the Date of death, the Decedent's Social Security Number (do not enter / or -), and the Domicile of decedent, and check here if final return.

Check box if resident and complete the following: Subdivision Code, County, City, town or taxing area. Check box if nonresident. See Form 504NR.

Check applicable box(es): This is an amended return. (Attach documentation); Net operating loss is being carried back; Name or address has changed.

Enter 1. Federal taxable income of fiduciary (from Line 23 of federal Form 1041). See Instruction 9. Enter 1a. Capital gain or (loss). Enter 2. Exemption claimed on federal return. Enter 3. Income from Electing Small Business Trust (ESBT). Do Not Prorate. See Instruction 10. Enter 4. Federal taxable income plus nonallocable additions (Enter the sum of Line 1, 2, and 3.). Enter 5. Fiduciary's Share of Maryland Modifications (Enter the positive or negative number from Form 504 Schedule A Line 8, 9d, or 10f.). Enter 6. Line 4 plus or minus Line 5. Enter 7. Nonresident beneficiary deduction from Form 504 Schedule A, Line 13. Enter 8. Maryland adjusted gross income (Subtract Line 7 from Line 6.). Enter 9. Maryland exemption. See Instruction 10. Enter 10. Fiduciary's Maryland taxable net income. (Subtract Line 9 from Line 8.). NOTE: Nonresident fiduciary - see instruction for Form 504NR. Enter 10a. Net capital gain income subject to additional tax from Line 9 of Form 504CG (Attach Form 504CG).

Line 11, Maryland tax (Use rate schedule in instructions or enter amount from Form 504NR, Line 21.).

Line 12, Special nonresident tax (See Instruction 14.): Nonresidents: Enter the amount from Form 504NR, Line 22. Residents: Enter zero.

Line 13, Additional tax on net capital gain income: Multiply Line 10a by .02.

Line 14, Total Maryland tax (Add Lines 11 through 13.).

Line 15, Credit for fiduciary income tax paid to another state and/or credit for preservation and conservation easements from Part AA, Line 1 and Part AA, Line 6 of Form 502CR (Attach Form 502CR.).

Line 16, Enter the Nonrefundable Business Tax Credits from Part AAA of Form 504CR.

Line 17, Total credits (Add Lines 15 and 16).

Line 18, Maryland Tax after credits (Subtract Line 17 from Line 14, if less than zero, enter zero).

Line 19, Local tax (Multiply the fiduciary's Maryland taxable net income from Line 10 by). See Instruction 15. Non-residents: enter zero.

Line 20, Local Credit for fiduciary income tax paid to another state from Part BB of Form 502CR. Line 21, Local tax after credit (Subtract Line 20 from Line 19.; If less than zero, enter zero.). Line 22, Total Maryland and local tax (Add Lines 18 and 21.).

Enter in 23 a Contribution to Chesapeake Bay and Endangered Species Fund, in 24 a Contribution to Developmental Disabilities Services and Support Fund, in 25 a Contribution to Maryland Cancer Fund.

Enter in 26 a Contribution to Fair Campaign Financing Fund and in 27 a Contribution to Maryland Veterans Trust Fund. Line 28 is the next line.

Line 28, Total Maryland income tax, local income tax and contributions (Add Lines 22 through 27.).

Line 29, Maryland and local tax withheld. See Instruction 17. Line 30, 2025 estimated tax payments, amount applied from 2024 return, and payment made with an extension request. Line 31, Amount withheld on Form MW506NRS. Line 32, Nonresident tax paid by pass-through entities (Attach Maryland Schedule K-1 (510/511).). Line 33, Refundable Business and/or Maryland Historic Revitalization tax credits (Attach Form 504CR and/or Form 502S.).

Line 34, Total payments and credits (Add Lines 29 through 33.).

Line 35, Balance due (If Line 28 is more than Line 34, enter the difference.). Line 36, Overpayment (If Line 28 is less than Line 34, enter the difference.).

Line 37, Amount of overpayment to be applied to next year's estimated tax. Line 38, REFUND, Amount of overpayment to be refunded (Subtract Line 37 from Line 36.).

Line 39, Total, Interest charges from Form 504UP or for late filing.

Line 40, TOTAL AMOUNT DUE (Add Lines 35 and 39.).

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.

DIRECT DEPOSIT OF REFUND (see Instruction 18): Verify that all account information is correct and clearly legible. If you are requesting direct deposit of your refund, complete the following. For Splitting Direct Deposit, use Form 588.

Check here if you authorize the State of Maryland to issue your refund by direct deposit. Check here if this refund will go to an account outside of the United States.

41. For the direct deposit option, complete the following information clearly and legibly: 41a. Type of account (Checking or Savings), 41b. Routing Number (9-digits), 41c. Account Number, 41d. Name(s) as it appears on the bank account.

Sign on the Signature of Fiduciary or Officer representing Fiduciary line and write the Date, under this declaration: Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements and to the best 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 information of which the preparer has any knowledge.

The preparer other than fiduciary enters the Street address of Preparer or Firm's address, City, State, ZIP Code + 4, Printed name of the Preparer / or Firm's name, Telephone number of preparer, and Preparer's PTIN (Required by Law), and signs on the Signature of preparer other than fiduciary (Required by Law) line with the Date.

Enter the Daytime telephone number (Fiduciary).

Write the CODE NUMBERS (3 digits per line).

Mail to: Comptroller of Maryland, Revenue Administration Division, 110 Carroll Street, Annapolis, MD 21411-0001.