Fillable Maryland Form 504 - Fiduciary Tax Return

2001 MARYLAND

FIDUCIARY TAX RETURN

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 taxable year. (b) Complete lines 1 through 8 and enter on line 24

if the fiduciary retains 100% of the income for the taxable year. (c) Complete lines 1 through 9 if a partial distribution of income is made by the fiduciary during

the taxable year. Write a minus sign (-) in front of any negative numbers.

ADDITIONS

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

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

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

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

SUBTRACTIONS

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

Other subtractions (Specify) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

Net Maryland modifications (Line 4 less line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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 – ( ________________________ ÷ ________________________ ) = ________________________

Total distribution

Distributable

Undistributed

Line 11, Schedule B,

net income

income factor

federal Form 1041

Line 7, Schedule B,

federal Form 1041

________________________ x ________________________ =

Enter here and on line 24

Undistributed

Line 8

income factor

NONRESIDENT DEDUCTION

Complete this area only if any beneficiaries are nonresidents of Maryland

10. Income from intangible personal property accumulated for a nonresident (See Instruction 19) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

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

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. Taxable net income (from line 29) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14. Taxable net income of fiduciary in other state . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15. Revised net income (Subtract line 14 from line 13. If less than 0, write 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16. Maryland tax (from line 30) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17. Tax on amount on line 15 (Use rate schedule.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18. Tentative tax credit (Line 16 less line 17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19. State tax shown on return filed with the state of ______________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(Attach copy of return filed with the other state.)

20. Credit for tax paid to the other state (Enter the lesser of line 18 or 19 here and on line 38) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

AMENDED RETURNS

If you are filing an amended fiduciary income tax return, check the box on the front and 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.

EXPLANATION OF CHANGES

MAIL TO:

COMPTROLLER OF MARYLAND

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

REVENUE ADMINISTRATION DIVISION

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