Get 2024 Maryland Form 502v Use Of Vehicle For Charitable Purposes

The 2024 Maryland Form 502V allows users to report vehicle usage for charitable purposes when filing their taxes. This guide provides clear and concise instructions to assist users in accurately completing the form online.

Follow the steps to successfully complete the form online.

1. Click the ‘Get Form’ button to access the form and open it in the editor.
2. Enter your first name, middle initial, and last name in the designated fields. Make sure the information is accurate as it is used for identification purposes.
3. Provide your Social Security number in the appropriate box. If you are filing jointly, enter your spouse's first name, middle initial, last name, and Social Security number.
4. Identify and enter the name of the qualifying organization you are serving. Remember, qualifying organizations include nonprofit volunteer fire companies and other organizations that provide medical, health, or nutritional care.
5. Input the total mileage incurred in providing qualifying services from January 1, 2024, to December 31, 2024, in Line 1 of the form.
6. Multiply the mileage reported on Line 1 by 0.67 (67 cents) and enter the resulting amount on Line 2.
7. Record any reimbursement received for the mileage on Line 3.
8. On Line 4, enter the amount included as an itemized deduction on your Maryland return, as applicable.
9. Calculate total deductions from mileage allowance by adding the amounts from Lines 3 and 4, then enter this total on Line 5.
10. Finally, subtract the amount on Line 5 from the amount on Line 2, and enter the result on Line 6. This amount will be reported on Line q of Form 502SU or Line q of Form 505SU.
11. After completing all fields, review the form for accuracy. Once finalized, you can save your changes, download, print, or share the form as needed.

Complete your 2024 Maryland Form 502V online today for an efficient and accurate tax filing experience.