Get Md Form 502s 2022-2025

This guide provides clear and detailed instructions for completing the MD Form 502S, which is used to claim tax credits for the rehabilitation of certified historic structures in Maryland. Follow the steps below to fill out the form accurately and efficiently.

Follow the steps to complete MD Form 502S online.

1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
2. Enter the name of the taxpayer(s) and their Taxpayer Identification Number (TIN) in the corresponding fields.
3. If applicable, check the box to indicate if the credit derived from an entity other than the taxpayer. Enter the entity’s Federal Employer Identification Number if you checked this box.
4. Enter the MHT Project Number as shown on your Certification Application.
5. Provide the location of the property by filling out the street address, city or town, state, and ZIP Code+4 accurately.
6. Fill in the certified rehabilitation expenditures on line 2. This amount is taken from your Certification Application.
7. Calculate the credit for certified rehabilitation expenditures by multiplying the amount on line 2 by 20% (.20) and enter the result on line 3.
8. If you are claiming an additional credit for high performance buildings, calculate this by multiplying the amount on line 2 by 5% (.05) and enter the result on line 4; otherwise, enter 0.
9. Add the values from lines 3 and 4 and enter the total on line 5. Ensure to apply the maximum credit limits as applicable.
10. If there are any recaptures applicable, subtract this amount from line 5 and record the result on line 6.
11. Make sure to save your changes, and once completed, download, print, or share the form as needed.

Begin the process of filling out your MD Form 502S online today to ensure you claim your eligible tax credits.