Get 2024 Maryland Form 502ae Subtraction For Income Derived Within Arts And Entertainment District(s)

Filling out the 2024 Maryland Form 502AE is essential for qualifying residing artists looking to claim a subtraction for income derived within arts and entertainment districts. This guide provides step-by-step instructions to help you complete the form accurately and efficiently online.

Follow the steps to fill out your form with ease.

1. Click ‘Get Form’ button to access the document and open it in your preferred online editor.
2. In the first section, enter your personal information, including your first name, middle initial, last name, and Social Security number. If applicable, also include your spouse’s details.
3. Provide your street address, city or town, state, and ZIP code + 4 in the designated fields.
4. For Part A, enter the name of the qualifying residing artist at Line 1. This should be the individual's name who qualifies for the subtraction.
5. At Line 2, specify the official name(s) of the arts and entertainment district(s) where the qualifying artist conducts business.
6. For Line 3, provide the physical address of the residential real property owned or rented in Maryland, avoiding any mailing address.
7. In Line 4, enter the trade name and business address located in the arts and entertainment district(s), ensuring accuracy.
8. Fill in Line 5 by briefly describing the nature of the artistic work and the business activities conducted in the arts and entertainment district(s).
9. In Part B, at Line 6, provide a brief description of the source of income derived within arts and entertainment districts for which you are claiming the subtraction.
10. Finally, enter the amount of the subtraction claimed at Line 7. This amount should reflect income derived within the arts and entertainment district(s) as included in federal adjusted gross income.
11. Once you have completed the form, save your changes, and consider downloading or printing a copy for your records. You can also share the form if needed.

Complete your documents online today for a smoother filing experience.