Form 504 Draft - Maryland Fiduciary Income Tax Return

MARYLAND

FORM

504

FIDUCIARY INCOME TAX RETURN

Page 2

NAME ____________________________ FEIN _______________________________

105040150

FIDUCIARY’S SHARE OF MARYLAND MODIFICATIONS

(a) Do not complete lines 1 through 10g if the fiduciary distributes all of the income from the tax year . See Instructions . (b) Complete lines 1 through 8 and enter on line 24 (Page

1) if the fiduciary retains 100% of the income for the tax year . (c) Complete lines 1 through 8, and lines 9a through 9d or 10a through 10g if a partial distribution of income is

made by the fiduciary during the tax year . Enter the result on line 24 (page 1) as a positive or negative number accordingly. Write a minus sign (-) in front of any negative numbers.

ADDITIONS

1 . Interest on state and local obligations other than Maryland . . . . . . . . . . . . . . . . . . . . . . . . . .

2 . Income taxes deducted on federal return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 . Other additions to income (Specify) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 . Total additions (Add lines 1 through 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SUBTRACTIONS

5 . Income from U .S . obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 . Other subtractions (Specify) (Do not include non-Maryland source income as a subtraction) . .

7 . Total subtractions (Add lines 5 and 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 . Net Maryland modifications (subtract line 7 from line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

FIDUCIARY’S SHARE OF NET MARYLAND MODIFICATIONS

(you may choose to allocate your modifications based upon the formula method or alternative method below . you may not use both methods)

Formula Method:

9a . Federal Distributable Net Income (DNI from federal schedule B, Form 1041) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 a

9b . Fiduciary’s share of the federal DNI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 b

9c . Fiduciary’s percentage of federal DNI (divide 9b by 9a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 c

9d . Fiduciary’s share of net Maryland modification (multiply line 8 by line 9c; enter here and on line 24) . . . . . . . . . . . . . . . . . . . . . . . .

Alternative Method:

In the alternative, net Maryland modifications may be allocated based on how the fiduciary has allocated all of its income.

(B) Social Security Number

(A) Name of Beneficiary

& Domicile state code

If there are more than 4 beneficiaries, use and attach a separate statement.

Example: Beneficiary Name

999-99-4321 MD

10a.

10b.

10c.

10d.

10e.

Beneficiaries subtotal from separate attached statement (if any)

10f.

Fiduciary (enter here and on line 24)

10g.

Total:

NONRESIDENT BENEFICIARY DEDUCTION

Complete this area only if any beneficiaries are nonresidents of Maryland. See Instruction 9 for required supporting

documents to submit with Form 504. Attach Form 504 Schedule K-1 for each beneficiary.

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

12 . Related expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 . Nonresident beneficiary deduction (Subtract line 13 from line 11; if less than 0, enter 0 .) Enter on line 26 (page 1) . . . . . . . . . . . .

Lines 14 through 20 are reserved.

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

if you authorize your preparer to discuss this return with us .

ANNAPOLIS, MARyLAND 21411-0001

information of which the preparer has any knowledge . Check here



Signature of preparer other than fiduciary

Date