Here are the instructions from South Carolina for this form.
How do I claim credit for the amount withheld?
When you file your Income Tax return, report the capital gain from the sale as income. Take credit for the Nonresident Real Estate Withholding on the appropriate line in the payments/withholding section of your Income Tax return
Line instructions:
Line 1: Enter the amount of gain or amount realized from the sale. Subtract the selling expenses from the selling price to compute the amount realized. Use the definition of amount realized found in IRC Section 1001(b). Subtract the basis of the property from the amount realized to compute the gain or loss. If the seller provides the buyer with an I-295, Seller's Affidavit Nonresident Seller Withholding, available at dor.sc.gov/forms, stating the amount of gain they are required to recognize on the sale, enter the amount of gain.
If the transaction reported is an installment sale, enter on line 1 only the portion of gain (if the seller provided an affidavit of gain) or the portion of the amount realized (if the seller does not provide an affidavit of gain) the withholding payment is based upon. If the seller makes the election on line 7 and provides an I-295, Seller's Affidavit Nonresident Seller Withholding, include the entire gain on line 1.
Line 2: Check the appropriate box and multiply by the amount on line 1.
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