Schedule Am (Form 504) - Maryland Fiduciary Income Tax - 2009
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12009
MARYLAND FIDUCIARY INCOME TAX
FORM
504
Alternative Method of Allocating Net Maryland Modifications
If this alternative method is elected, this schedule must be attached to Form 504
Schedule AM
DO NOT SUBMIT THIS SCHEDULE IF YOU ARE USING THE FORMULA METHOD PROVIDED FOR IN THE
FIDUCIARY INSTRUCTION BOOKLET.
Name of estate or trust
FEIN
Name and title of fiduciary
Maryland Modification Schedule - Do not complete this schedule if the trust has distributed all of its income.
(D)
(A)
(B)
(C)
Share of
(E)
Name of Beneficiary
Social Security # (last 4-digit) &
Share of Net MD
federal total
Columns (C) + (D)
domicile state code
Modifications
income (before
deduction)
If there are more than 8 beneficiaries, use and attach a separate statement
Beneficiary Name
4321 MD
$
0
$
0
0
1
$
$
2
$
$
3
$
$
$
$
4
$
$
5
$
$
6
$
$
7
$
$
8
Subtotal from separate attached statement (if any)
$
$
9
10
Fiduciary
$
$
$
11
Total: $
$
$
Enter the amount shown on line 10 of Column C on line 24 of Form 504.
RESIDENT FIDUCIARIES STOP HERE. Nonresident fiduciaries continue to line 12.
NONRESIDENTS ONLY
UIF (Enter on line
line 10, column (E)
line 11, column (E)
9a of Form 504)
Undistributed income factor =
$
÷
$
=
12
General Instructions
When completing this schedule, keep in mind that a nonresident
fiduciary may not claim a subtraction modification for income from
Certain items must be added to and subtracted from federal
a non-Maryland source on Form 504. Nonresident fiduciaries may
taxable income to determine the Maryland adjusted gross income
subtract income from non-Maryland sources on Form 504NR. See
of a fiduciary.
Instruction 8.
Maryland Form 504, as well as Instruction 7 in the Maryland
Specific Instructions
Fiduciary instruction booklet, provide for a calculation of the
Complete the header of the Schedule AM, providing the name
Undistributed Income Factor on line 9a of Form 504:
of the estate or trust, the federal employer identification number
Divide the Distribution Deduction from line 18 of federal Form
(FEIN), and the name and title of the fiduciary.
1041 by the total income from line 9 of the federal Form 1041,
Lines 1 through 8: List the name of each beneficiary in Column
expressing the result in a decimal form. Subtract the decimal
A. In Column B list the last four digits of the Social Security
from 1.
Number and the standard two letter code representing the state of
Note: Lines 1 through 9b of Form 504 should not be completed if
domicile. In Column C, list the share of net Maryland modifications
the trust has distributed all of its income during the year, or has no
that are allocable to the beneficiaries. Display net subtraction
Maryland modifications.
modifications with parentheses. In Column D, list the beneficiary’s
allocable share of the federal total income.
This schedule is designed to provide an alternative method of
allocating the fiduciary’s and beneficiary’s share of net Maryland
If there are more than eight beneficiaries, reflect their information
modifications when this method more adequately reflects the
on a separate sheet and attach it to this schedule.
allocation of the net modifications than the formula method
Line 9: If there were more than eight beneficiaries for which you
existing on Form 504.
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