Get Form I 295

Filling out Form I 295, the seller's affidavit for nonresident seller withholding, can seem daunting. This guide will provide clear and straightforward instructions to help users complete the form online with confidence.

Follow the steps to fill out the Form I 295 effectively.

1. Click the ‘Get Form’ button to obtain the form and open it in your preferred document viewer.
2. Begin by entering information in the first section, where you must certify that this affidavit is related to the real estate sale as per SC Revenue Ruling #09-13.
3. Attach a description of the real property and any tangible personal property involved in the sale.
4. Fill in the name of the county where the property is located and its corresponding tax map number.
5. Provide the closing date of the sale in the appropriate field.
6. Enter your name as the seller in the designated section.
7. Complete your address by filling in the number, street or rural route, city, state, and zip code fields.
8. Indicate your Social Security Number (SSN) or Federal Employer Identification Number (FEIN) in the next required field.
9. Acknowledge your obligation to file a South Carolina income tax return for the year of the sale by marking the relevant section.
10. Specify your residency status regarding the state of South Carolina in the appropriate section.
11. If applicable, indicate if your organization is tax-exempt under applicable tax laws.
12. Confirm the amount of gain that needs to be recognized on the transaction, ensuring it does not exceed the specified value.
13. Select and complete the section about withholding amount to ensure accurate reporting.
14. Review the portion regarding installment sales if this method applies to your situation; attach any necessary schedules.
15. Fill in any additional information related to your sale, such as principal residence exemptions or like-kind exchanges.
16. Provide the printed name and signature at the end of the form to validate your affidavit.
17. Complete the affidavit by providing any required information for the affiant, if the person making the affidavit is not the seller.
18. Once all fields are adequately filled, you can save your changes, download, print, or share the completed form as needed.

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