504: Maryland Fiduciary Tax Return (2024)
Maryland · Comptroller of Maryland · Used for tax years 2024
Maryland Form 504 is the 2024 fiduciary income tax return for estates and trusts. It reports income, Maryland adjustments, state and local taxes, credits, and payments to calculate a balance due or refund.
What you'll need
Have your federal Form 1041 available. Form 504 asks for federal taxable income from line 23 and the exemption claimed on the federal return.
You will also need the estate or trust's nine-digit Federal Employer Identification Number (FEIN), the fiduciary's name and mailing address, and, for a decedent's estate, the date of death, decedent's Social Security number, and domicile.
Depending on your return, you may also need:
- Form 504 Schedule A: For the fiduciary's share of Maryland modifications and any nonresident beneficiary deduction.
- Form 504NR: Required for nonresident fiduciaries.
- Form 502CR: Attach it when claiming the credits listed on line 14.
- Maryland Schedule K-1 (510/511): Attach it for nonresident tax paid by pass-through entities reported on line 29.
- Form 504CR and/or Form 502S: Attach the applicable form for credits reported on line 30. Form 504CR is also used for nonrefundable business tax credits on line 15.
- Amended-return documentation: Attach supporting documentation and a copy of the amended federal Form 1041 if the federal return is being amended.
- Bank account information: For direct deposit, provide the account type, nine-digit routing number, account number, and name or names on the account.
How to file
Print using blue or black ink only. Check the entity-type box or boxes that correspond to your federal return, and complete the resident-status information. Nonresidents must include Form 504NR.
Sign the return as the fiduciary or the officer representing the fiduciary. If someone other than the fiduciary prepares the return, the form requires the preparer's signature and PTIN.
Mail to:
Comptroller of Maryland
Revenue Administration Division
110 Carroll Street
Annapolis, MD 21411-0001
If paying by check or money order, make it payable to Comptroller of Maryland. Include the FEIN, tax year, and tax type on the payment in blue or black ink. The form marks a place to staple the check.
Common mistakes
- Leaving identifying information off a payment: The form warns that omitting the FEIN, tax year, or tax type will delay payment processing. Write this information in blue or black ink.
- Omitting Form 504NR: Nonresidents must include it.
- Prorating ESBT income: Line 3 specifically says not to prorate income from an Electing Small Business Trust.
- Entering unclear or incorrect bank details: Verify that all direct-deposit account information is correct and clearly legible.
- Missing amended-return steps: Check the applicable boxes, draw a line through any barcodes on the front, explain the changes, and attach the required documentation.
Questions people ask
Can I have my refund deposited directly into a bank account?
Yes. Check the direct-deposit authorization box and complete the account information on line 38. The form also has a box to indicate that the refund will go to an account outside the United States. Use Form 588 to split a direct deposit.
Can I apply an overpayment to next year's estimated tax?
Yes. Enter the amount to apply on line 34. Subtract that amount from the overpayment on line 33 to calculate the refund on line 35.
How do I amend this return?
Check the applicable amended-return boxes, draw a line through any barcodes on the front, and explain the changes in the space provided. Attach a copy of the amended federal Form 1041 if you are also amending the federal return, along with any other required documentation.
Can I authorize my preparer to discuss the return with Maryland?
Yes. Check the authorization box in the Signature and Verification section.