Form 502cr - Maryland Income Tax Credits For Individuals - 2012 Page 6
Download a blank fillable Form 502cr - Maryland Income Tax Credits For Individuals - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 502cr - Maryland Income Tax Credits For Individuals - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6MARYLAND INCOME TAX
FORM
Page 4
502CR
CREDITS FOR INDIVIDUALS
INSTRUCTIONS
2012
PART G - INCOME TAX CREDIT SUMMARY
This part is to summarize Parts A through F and the non-
refundable portion of Heritage Structure Rehabilitation tax
credits . If the total from Part G, line 8 exceeds the state tax, the
excess may not be refunded .
PART H - REFUNDABLE INCOME TAX CREDITS
Line 1 NEIGHBORHOOD STABILIZATION CREDIT
If you live in the Waverly or Landsdowne sections
of Baltimore City, or in the Hillendale, Northbrook,
Pelham Woods, or Taylor/Dartmouth areas of Baltimore
County, you may qualify for this credit . Credit for homes
purchased in Baltimore City must have been applied
for by December 31, 2002 . Credit for homes purchased
in Baltimore County must have been applied for by
December 31, 2005. After certification by Baltimore City
or Baltimore County, you may claim an income tax credit
equal to the property tax credit granted by Baltimore City
or Baltimore County . Enter the amount on line 1 of Part H
and attach a copy of the certification.
Line 2 HERITAGE
STRUCTURE
REHABILITATION
TAX
CREDIT AND SUSTAINABLE COMMUNITIES TAX
CREDIT
See instructions for Form 502H and Form 502S .
Line 3 REFUNDABLE BUSINESS INCOME TAX CREDIT
See Form 500CR for qualifications and instructions for
the One Maryland Economic Development Tax Credit,
the Biotechnology Investment Incentive Tax Credit, Job
Creation and Recovery Tax Credit, the Clean Energy
Incentive Tax Credit and Film Production Employment
Tax Credit .
Line 4 IRC SECTION 1341 REPAYMENT CREDIT
If you repaid an amount reported as income on a prior
year tax return this year that was greater than $3,000,
you may be eligible for an IRC Section 1341 Repayment
credit . Attach documentation . For additional information,
see Administrative Release 40 .
Line 5 FLOW-THROUGH NONRESIDENT PTE TAX
If you are the beneficiary of a Trust or a Qualified
Subchapter S Trust for which nonresident PTE tax was
paid, you may be entitled to a credit for your share of
that tax . Enter the amount on this line and attach both
the Form 1041 Schedule K-1 for the trust (or Form 504
Schedule K-1) and a copy of the K-1 issued to the trust
by the PTE .
If you are a member of a PTE for which nonresident tax
was paid, you may be entitled to a credit for your share
of that tax . Enter the amount on this line and attach
the federal Schedule K-1 and Form 510 Schedule K-1(or
a Form 510 Schedule K-1 equivalent statement) issued
to you and to the partnership, limited liability company,
or S Corporation, by the PTE .
Line 6 Add lines 1 through 5 and enter the total on the
appropriate line of the income tax form being filed.
COM/RAD-012
12-49
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial