504D: Fiduciary Declaration of Estimated Income Tax (2024)
Maryland · Comptroller of Maryland · Used for tax years 2024
Maryland Form 504D is the 2024 Fiduciary Declaration of Estimated Income Tax for estates and trusts. It includes a worksheet to calculate estimated Maryland and local income tax or special nonresident tax, and records the estimated tax payment submitted with the declaration.
Who files this form
File Form 504D if you are required to file a Maryland fiduciary income tax return and your taxable income is expected to produce more than $500 in tax.
You must also file a declaration with full payment within 60 days after receiving $500 or more from awards, prizes, lotteries or raffles, in cash or property, if Maryland and local tax has not been withheld.
A personal representative of an estate is not required to make estimated tax payments for the estate’s first two tax years.
When it's due
For tax year 2024, the printed payment deadlines are:
- April 15, 2024: Pay at least one-fourth of the total estimated tax.
- June 15, 2024: Second quarterly payment.
- September 15, 2024: Third quarterly payment.
- January 15, 2025: Fourth quarterly payment.
You may pay the entire estimated tax with your first payment.
Instead of making the fourth payment, you may file your 2024 fiduciary income tax return by January 31, 2025, and pay the full remaining tax balance with the return.
For fiscal-year filers using the 2024 form, payments are due on the 15th day of the 4th, 6th, 9th and 13th month following the beginning of the fiscal year.
What you'll need
Have these details ready to complete the form and worksheet:
- The estate or trust’s name and nine-digit Federal Employer Identification Number.
- The fiduciary’s name, title and current mailing address.
- Expected 2024 federal taxable income and the federal exemption amount you expect to claim.
- Applicable Maryland modifications, nonresident beneficiary deductions and tax credits.
Depending on your situation, the form refers to these other forms and instructions:
- Forms 502 or 505 instructions: For additions and subtractions, using only the fiduciary’s share.
- 2023 Forms 504 and 504NR: For nonresident fiduciaries calculating 2024 estimated tax, using the tax rate schedule in the supplied instructions.
- Form 502CR: For a resident fiduciary’s credit for income tax paid to another state.
- Forms 504CR and/or 502S: For applicable credits, including tax paid by pass-through entities.
How to file
- Review the instructions and print the form using blue or black ink.
- Enter the estate or trust and fiduciary information. Check the box if you are a first-time filer or your mailing address has changed.
- Complete the estimated tax worksheet. Divide the total estimated tax on line 14 by four to calculate the amount for each declaration on line 15. Enter the amount paid with this declaration.
- Make your check or money order payable to Comptroller of Maryland. In blue or black ink, include the Federal Employer Identification Number, tax year and tax type. Do not send cash. The form marks where to staple the check.
- Mail the declaration and payment to:
Comptroller of Maryland
Revenue Administration Division
110 Carroll Street
Annapolis, Maryland 21411-0001
Additional declaration forms are available at marylandtaxes.gov or any branch office. You may also call 1-800-638-2937 or, from Central Maryland, 410-260-7980.
Common mistakes
- Leaving identifying information off your payment. The Federal Employer Identification Number, tax year and tax type must appear on the check or money order. Missing information will delay processing.
- Sending cash. The instructions say not to send cash.
- Using ink other than blue or black. The form requires blue or black ink.
- Missing filing or installment deadlines. The instructions warn that late filing or payment can result in penalties and interest.
- Underestimating tax. The instructions warn of penalties and interest when the estimate is less than 90% of the current-year tax shown on the return and less than 110% of the prior-year tax.
Questions people ask
Do I need to complete the worksheet for every payment?
No. For later estimated payments, you do not need to complete it again if you have already calculated the amount to pay each quarter.
What if my income changes during 2024?
A large increase in income after April 15, 2024, may require a declaration even if one was not required earlier. To amend your original declaration, increase or decrease the remaining payments.
What Maryland exemption should I use?
A personal representative uses $600. Other fiduciaries use $200.
Which local tax jurisdiction should I use?
A personal representative uses the jurisdiction where the decedent was domiciled on the date of death. Other fiduciaries use the jurisdiction where the trust was created or is principally administered. The instructions list a special nonresident tax rate of .0225 for nonresident fiduciaries.