Get Sc Dor I-290 2019

The SC DoR I-290 form is essential for nonresident real estate withholding in South Carolina. This guide will walk you through the process of completing the form accurately and efficiently, ensuring that you meet all necessary requirements.

Follow the steps to fill out the SC DoR I-290 effectively.

1. Click ‘Get Form’ button to access the SC DoR I-290 and open it for editing. Ensure you have the latest version of the form for accurate completion.
2. Begin by entering the location of the property being sold. Include the tax map number and county to provide precise details.
3. Fill in the seller's first and last names, along with their Social Security Number (SSN), Individual Taxpayer Identification Number (ITIN), or Federal Employer Identification Number (FEIN).
4. Provide the buyer's information, including their first and last names, address, and respective SSN, ITIN, or FEIN.
5. State the date of withholding by entering the month, day, and year. Ensure this corresponds with the payment date.
6. Indicate the buyer's contact information and the third party involved in the transaction, checking the appropriate box for either a lending institution, real estate agent, or closing attorney.
7. On line 1, detail the amount withheld based on either the seller's provided affidavit of gain or the amount realized from the sale.
8. On line 2, select the appropriate percentage to be multiplied by the amount on line 1. If the seller is not a corporation, use 7%; if they are, use 5%.
9. Calculate the total payment to the seller as instructed on line 3, considering any selling expenses and mortgages.
10. Enter the lesser of lines 2 and 3 on line 4, which will represent the total amount due.
11. If applicable, calculate any penalties or interest due for late payments on line 5.
12. Combine the total amounts from lines 4 and 5 on line 6 for the total payment amount.
13. Complete the form with the seller's election on line 7 regarding installment sales and record the due date of the first installment.
14. Finally, ensure that all fields are accurately completed before saving your changes, downloading, printing, or sharing the form as necessary. Be aware that incomplete information may delay processing.

Complete your SC DoR I-290 form online today to ensure a smooth transaction.