Get Md 505nr 2017

Filling out the MD 505NR form effectively is crucial for nonresidents to calculate their Maryland income tax. This guide will provide you with a step-by-step approach to accurately complete the online form.

Follow the steps to successfully complete the MD 505NR form.

1. Click ‘Get Form’ button to access the form and open it for completion.
2. Begin by entering your first name, middle initial, and last name in the designated fields.
3. Input your Social Security number in the provided space.
4. If applicable, fill in your spouse's first name, middle initial, last name, and Social Security number.
5. Move to Part I and enter your taxable net income as reported in Form 505, line 31, on line 1.
6. Determine your tax amount using the tax table or computation worksheet, entering it on line 2.
7. Proceed to Part II by entering your federal adjusted gross income from Form 505, line 17, on line 3.
8. If claiming a federal earned income credit, enter the applicable earned income on line 3a.
9. On line 4, add your federal adjusted gross income and any additions noted in Form 505.
10. If you have taxable military income, report it on line 5.
11. Enter your subtractions from Form 505 on line 6a.
12. Input any non-Maryland income not included on previous lines in line 6b.
13. Sum lines 5 through 6b and insert the result on line 7.
14. Calculate your Maryland adjusted gross income by subtracting line 7 from line 4; enter this on line 8.
15. If using the standard deduction, recalculate and enter it on line 8a.
16. Calculate your Maryland Income Factor by dividing line 8 by line 3 and enter it on line 9.
17. Determine your deduction amount: if using the standard deduction, multiply it by the factor on line 9 for line 10a; if itemizing, do the same for line 10b.
18. Calculate your net income by subtracting the deduction amount from line 8, recording it on line 11.
19. Calculate your exemption amount and enter it on line 12.
20. Finally, calculate your Maryland taxable net income by subtracting line 12 from line 11, and enter it on line 13.
21. Enter the tax amount from line 2 on line 14.
22. Divide the amount on line 13 by line 1 to find the Maryland nonresident factor for line 15.
23. Multiply the tax from line 14 by the nonresident factor from line 15, entering the result on line 16.
24. If applicable, calculate the special nonresident tax on line 17.
25. Review all entries for accuracy, then save your changes, and proceed to download, print, or share the MD 505NR form.

Complete your MD 505NR form online now for accurate tax calculation.