This form is a sample letter in Word format covering the subject matter of the title of the form.
This form is a sample letter in Word format covering the subject matter of the title of the form.
Form 502CR is used to claim personal income tax credits for individuals (including resident fiduciaries).
502R. Maryland Retirement Income Form. Form for reporting retirement income as per enacted House Bill 1148 by the Maryland General Assembly during the 2016 Session.
To complete Form 502, you'll need your personal information, including Social Security Number, income details from all sources, information on any tax credits or deductions you're eligible for, and details of any tax payments you've already made for the year.
State Poverty Level Credit Those who are claimed as a dependent on Maryland return are not eligible for this credit. If your earned income and Federal AGI plus additions are below the poverty level (for the number of people in household), you may be eligible to claim 5% of your earned income.
Employees who are eligible for the federal EITC are eligible for the Maryland EITC. Married employees or employees with qualifying children may qualify for up to half of the federal EITC. Employees without a qualifying child may qualify for the full amount of the federal credit up to $600.
Senior Tax Credit Residents who are at least 65 on the last day of the tax year may be eligible for a nonrefundable tax credit of up to $1,000.
If you are a nonresident employed in Maryland but living in a jurisdiction that levies a local income or earnings tax on Maryland residents, file Form 515.
Families who can claim exemptions for themselves, their spouses, and their dependents are most likely to have 3-5 exemptions.