FORM
MARYLAND SUBTRACTION FOR
20___
502AC
CONTRIBUTION OF ARTWORK
Attach to your tax return
Your first name and initial
Last name
Social Security number
Spouse’s first name and initial
Last name
Social Security number
Present address (No. and street)
City or town
State
ZIP code
Check Return Filed:
502 Resident
505 Nonresident
PART A – Qualification of Taxpayer
Current Year
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1. 20
federal adjusted gross income plus Maryland additions . . . . . . . . . . . . . . . . . . . . . . . . . . 1. _____________________
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2. Enter 50% of line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. _____________________
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3. 20
gross income from the sale of artwork produced by the taxpayer . . . . . . . . . . . . . . . . . . . 3. _____________________
Prior Year
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4. 20
federal adjusted gross income plus Maryland additions . . . . . . . . . . . . . . . . . . . . . . . . . . 4. _____________________
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5. Enter 50% of line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5. _____________________
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6. 20
gross income from the sale of artwork produced by the taxpayer . . . . . . . . . . . . . . . . . . . . 6. ____________________
If line 2 exceeds line 3 and line 5 exceeds line 6, you do not qualify for this subtraction.
PART B – Certification of Museum
Name of museum
Number and street
City
State
ZIP code
7.
Is the museum located in the state of Maryland? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
8.
Is the museum open to the general public? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
9. Has the museum accepted the donated artwork? If yes, attach a certificate of acceptance from the museum. . . .
Yes
No
If the answer to any of these questions is no, you do not qualify for this subtraction.
PART C – Amount of Subtraction
If you have completed Parts A and B above and are eligible to claim this subtraction, compute the amount of your
subtraction below.
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10. Enter the fair market value of the artwork. (Attach certified appraisal) . . . . . . . . . . . . . . . . . . 10. _____________________
11. Enter any portion of the fair market value of the artwork contained in your federal or state
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itemized deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. _____________________
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12. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12. _____________________
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13. Enter the amount from line 2 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. _____________________
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14. Enter the lesser of line 12 or line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. _____________________
Your Maryland-only subtraction for the contribution of artwork is the amount on line 14. Include this amount on line
m of Form 502SU or line m of Form 505SU.
COM/RAD-010
12-49